Amazon stated Friday it’s shopping for iRobot, identified for its self-operating Roomba vacuum cleaner, for $1.7 billion.
The e-commerce firm outed iRobot’s intention to make its prospects’ lives “easier and more enjoyable” by eliminating time spent on cleansing chores.
“We know that saving time matters, and chores take precious time that can be better spent doing something that customers love,” stated Dave Limp, senior vp of Amazon Units in an announcement.
Amazon will purchase iRobot for $61 per share in an all-cash transaction that may embody iRobot’s internet debt of about $275.6 million. The deal is topic to approval by shareholders and regulators. Upon completion, iRobot CEO Colin Angle, will stay in his place.
“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,” Angle stated in an announcement.
Individually, Bedford, Massachusetts-based iRobot reported its quarterly outcomes. Income plunged 30% on order reductions and delays, and the corporate introduced it was shedding 10% of its workforce.
Shares of the corporate, which have slumped sharply over the past 12 months, jumped greater than 19% in early commerce on Friday.