Amazon to clean up by buying Roomba maker iRobot for $1.7 billion

Admin, Friday, August 5, 2022
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tl; DR

  • Amazon has agreed to acquire iRobot, the company that makes the popular Roomba family of robotic vacuums.
  • Amazon will pay $1.7 billion in an all-cash transaction.
  • The deal still needs approval from iRobot shareholders and government regulators.

Amazon is making another major acquisition that will make it a major player in the growing smart home business. Retail giant only announce Planning to buy iRobot, home of the popular Roomba line of robot vacuums.

iRobot was created before Amazon, in 1990, but only launched the first Roomba robot vacuum in 2002. The product, which naturally automates boring home chores, turned Roomba into a true household name. The company had sold 30 million Roombas by the end of 2020. However, in the nearly 20 years since its first release, other companies have entered the robot vacuum market with some success, including Roborock, Shark, and Eufy. Amazon’s move to buy iRobot could help increase Roomba’s market share.

Read more: Best robot vacuums

Amazon will pay $1.7 billion to buy iRobot in an all-cash transaction. However, the deal will not be final until it has been approved by iRobot shareholders, and is also subject to regulatory approval. Amazon has not announced when the deal is expected to close. And when that happens, Colin Angle, the current president of iRobot, will remain as the company’s CEO.

This is Amazon’s latest acquisition in the smart home space. It bought Blink smart security camera company in 2017 and Ring smart doorbell company in 2018.

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