Amazon and iRobot announced that they have signed a merger agreement regarding the acquisition of iRobot. Once the deal is completed, Colin Angle will continue as CEO of iRobot.
Amazon will acquire iRobot for $61 per share in an all-cash transaction, valued at approximately $1.7 billion, including IRobot ‘S Net Debt. The process will be completed after approvals from iRobot’s shareholders and regulatory authorities. Once the deal is completed, Colin Angle will remain CEO of iRobot.
Dave Limp, Senior Vice President of Amazon Products, said: “We know that time savings are important and that housework takes up valuable time that customers can use more efficiently to do something else they love. “It proved that people can change their cleaning habits with creative products that can automatically empty the dust bin. I’m excited to be working with the iRobot team.”