Thursday Aug 11, 2022
Thursday Aug 11, 2022

Amazon to buy vacuum maker iRobot for $1.66B


Nepalnews
2022 Aug 05, 18:46,
In this Oct. 1, 2020 file photo, an Amazon logo appears on an Amazon delivery van in Boston. Amazon said Tuesday, June 1, 2021 that it will stop testing jobseekers for marijuana. The company, the second-largest private employer in the U.S. behind Walmart, is making the change as states legalize cannabis or introduce laws banning employers from testing for it. Photo: AP

Amazon on Friday announced it has entered into an agreement to acquire the vacuum cleaner maker iRobot for approximately $1.66 billion.

The company sells its robots worldwide and is most famous for the circular-shaped Roomba vacuum.

Amazon said it will acquire iRobot for $61 per share in an all-cash transaction that will include iRobot’s net debt of about $275.6 million. The deal is subject to approval by shareholders and regulators.

Upon completion, iRobot’s CEO, Colin Angle, will remain in his position.

Separately, Bedford, Massachusetts-based iRobot reported its quarterly results. Revenue plunged 30% on order reductions and delays, and the company announced it was laying off 10% of its workforce.

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Amazon irobot vacuum maker
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