Amazon agrees to purchase iRobot for $1.7 billion

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Amazon agrees to acquisition iRobot for $1.7 billion

Retail and exertion elephantine Amazon has agreed to acquisition user robotics institution iRobot, the companies announced Friday morning.Massachusetts-based iRobot is known for making Roomba robotic vacuums and different cleaning tools. According to Friday's announcement, Amazon volition acquisition the institution successful an all-cash transaction worthy $1.7 billion, which is $61 per share. The company's banal terms closed Thursday astatine $49.99."Amazon shares our passionateness for gathering thoughtful innovations that empower radical to bash much astatine home, and I cannot deliberation of a amended spot for our squad to proceed our mission," said iRobot CEO Colin Angle, who volition enactment connected to pb iRobot aft the merger. "I'm hugely excited to beryllium a portion of Amazon and to spot what we tin physique unneurotic for customers successful the years ahead.""Customers emotion iRobot products and I'm excited to enactment with the iRobot squad to invent successful ways that marque customers' lives easier and much enjoyable," Dave Limp, SVP of Amazon Devices, said successful a statement.Earlier this summer, Amazon opened a immense caller bureau gathering successful Boston, wherever they program to bash enactment successful fields including instrumentality learning, code science, unreality computing and robotics engineering.Also Friday, iRobot reported its second-quarter fiscal results. The company's gross was $255.4 million, down importantly from the $365.6 cardinal reported during the 2nd 4th of 2021.The planned merger is taxable to support by shareholders and regulators.

Retail and exertion elephantine Amazon has agreed to acquisition user robotics institution iRobot, the companies announced Friday morning.

Massachusetts-based iRobot is known for making Roomba robotic vacuums and different cleaning tools. According to Friday's announcement, Amazon volition acquisition the institution successful an all-cash transaction worthy $1.7 billion, which is $61 per share.

The company's banal terms closed Thursday astatine $49.99.

"Amazon shares our passionateness for gathering thoughtful innovations that empower radical to bash much astatine home, and I cannot deliberation of a amended spot for our squad to proceed our mission," said iRobot CEO Colin Angle, who volition enactment connected to pb iRobot aft the merger. "I'm hugely excited to beryllium a portion of Amazon and to spot what we tin physique unneurotic for customers successful the years ahead."

"Customers emotion iRobot products and I'm excited to enactment with the iRobot squad to invent successful ways that marque customers' lives easier and much enjoyable," Dave Limp, SVP of Amazon Devices, said successful a statement.

Earlier this summer, Amazon opened a immense caller bureau building successful Boston, wherever they program to bash enactment successful fields including instrumentality learning, code science, unreality computing and robotics engineering.

Also Friday, iRobot reported its second-quarter fiscal results. The company's gross was $255.4 million, down importantly from the $365.6 cardinal reported during the 2nd 4th of 2021.

The planned merger is taxable to support by shareholders and regulators.

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