E-commerce giant Amazon is acquiring robot technology company iRobot for €1.6 billion

E-commerce giant Amazon and US-based iRobot, a tech company that designs and builds behavioral AI robots, announced on Friday (Aug. 5) that they have entered into a definitive merger agreement, in which Amazon will acquire iRobot becomes.

According to a statement from Amazon, the company will buy iRobot for $61 per share in a cash deal worth nearly $1.7 billion, including iRobot’s net debt. Colin Angle will continue to lead iRobot.

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purpose of this acquisition

iRobot claims to simplify customers’ lives with home cleaning solutions. With each new product generation, the company claims to have developed and tackled complex issues in order to give customers back their valuable time.

Dave Limp, SVP of Amazon Devices, says, “We know it’s important to save time, and chores take up valuable time that could be better spent doing something customers love. Over many years, the iRobot team has proven its ability to reinvent the way people clean with incredibly practical and inventive products – from cleaning when and where customers want while bypassing common household obstacles, up to the automatic emptying of the collection container. Customers love iRobot products – and I look forward to working with the iRobot team to find ways to make customers’ lives easier and more enjoyable.”

Amazon is an online store aimed at buyers, retailers and content producers. It provides users with goods and content purchased from merchants for resale, as well as that provided by independent sellers.

Amazon offers its services to the North American and international markets through websites such as amazon.com and amazon.ca. It also allows writers, musicians, filmmakers, app developers, and others to publish and sell content through its branded websites.

Amazon also offers Kindle Direct Publishing, a web-based tool that allows independent authors and publishers to upload their books to the Kindle Store for sale. It also manufactures and distributes electrical equipment and offers co-branded credit card offerings, advertising services, and support for developers and businesses through Amazon Web Services.

What does iRobot offer?

Founded in 1990 by roboticists at the Massachusetts Institute of Technology, iRobot’s mission is to make the dream of useful robots come true. The consumer robot company designs and builds “thoughtful” robots and smart home innovations to improve lives. iRobot introduced the first Roomba vacuum robot in 2002.

The company’s product portfolio includes technologies and advanced concepts in the fields of cleaning, mapping and navigation.

Colin Angle, Chairman and CEO of iRobot, says of the merger, “Since we founded iRobot, our team has been on a mission to create innovative, practical products that make customers’ lives easier and have led to inventions like Roomba and iRobot Operating system. Amazon shares our passion for creating thoughtful innovations that empower people to do more at home, and I can’t think of a better place for our team to continue our mission. I am very excited to be a part of Amazon and to see what we can build together for customers in the years to come.”

iRobot claims to have created some of the most important robots in the world. For example, the company’s robots have solved the mysteries of the Great Pyramid of Giza, found harmful underwater oil in the Gulf of Mexico and saved thousands of lives in conflict zones around the world.

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