Amazon Is Buying Robot Vacuum Maker iRobot For $1.7 billion
Amazon has agreed to acquire iRobot Corp., a company specializing in the production of robotic vacuum cleaners. The deal is valued at $1.7 billion, including debt.
“Customers love iRobot products, and I’m excited to work with the iRobot team on inventions that make life easier and more enjoyable for customers,” said Dave Limp, senior vice president of Amazon Devices.
On Friday, iRobot shares rose almost 19.1% to close at $59.54. Amazon devices are listening, watching and will soon clean up consumers. From fitness wearables to streaming devices and its Alexa digital assistant, Amazon has expanded its line of devices to within an ecosystem that connects consumers more closely with the company and its services. The deal is also a continuation of Amazon’s business strategy to expand market share in various product categories.
In February 2018, it bought Ring, which makes video doorbells and other smart home technologies, and before that, Blink, which makes connected cameras and doorbells for the home.
