Amazon.com Inc. announced Friday that it reached a merger agreement with iRobot for its acquisition.
The firm is acquiring iRobot for $61 per share in an all-cash deal worth approximately $1.7 billion, including iRobot's net debt. Finalization of the transaction is subject to customary closing conditions, as well as iRobot stockholder and regulatory approvals. Once completed, Colin Angle will remain CEO of iRobot.
"Since we started iRobot, our team has been on a mission to create innovative, practical products that make customers' lives easier, leading to inventions like the Roomba and iRobot OS," said Colin Angle, chairman, and CEO of iRobot. "Amazon shares our passion for building thoughtful innovations that empower people to do more at home, and I cannot think of a better place for our team to continue our mission."
