Page 30 - Colin Angle News Today

IRobot's business is struggling in 2022, likely motivating management to sell to the stronger company.

FinancialBuzz.com News Commentary NEW YORK, Aug. 5, 2022 /PRNewswire/ -- Domestic robots are becoming more and more popular. In fact, recent years have shown the segment to be in high demand.

Amazon is acquiring iRobot for $61 a share, an all-cash deal that values the Roomba maker at $1.7 billion, the companies announced Friday.

The world's largest online retailer will acquire the firm for $61 per share, valuing the company at a premium of 22% from the stock's last closing price.

Amazon has acquired robotics manufacturer iRobot -- famous for its 'Roomba' --- for a whopping $1.7B, showing their commitment to the home device and robotics markets.

Roomba and Braava are set to become Amazon-owned brands.

Amazon adds iRobot's Roomba vacuum cleaner to its growing portfolio of smart home solutions including Ring, Fire TV and Echo smart speakers.

IRobot is most famous for the circular-shaped Roomba vacuum, which would join voice assistant Alexa and Ring security cameras among smart home features offered by Amazon.

IRobot will be able to unlock its full potential under Amazon's wing.

Amazon to acquire iRobot for 1.7 bln USD-