Amazon.com Inc will acquire iRobot Corp, maker of the robotic vacuum cleaner Roomba, in an all-cash deal for about $1.7 billion in the latest push by the world’s largest online retailer to expand its stable of smart home devices.
Amazon will pay $61 per share, valuing iRobot at a 22 percent premium to its previous closing price of $49.99. In Friday trading, iRobot’s stock increased 19% to $59.66. iRobot shares were more than twice that price during COVID-19 pandemic lockdowns, as hygiene-conscious consumers invested in premium vacuum cleaners. The acquisition fulfils a vision announced by Amazon in 2021.
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Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.
Amazon.com Inc will acquire iRobot Corp, maker of the robotic vacuum cleaner Roomba, in an all-cash deal for about $1.7 billion in the latest push by the world’s largest online retailer to expand its stable of smart home devices.
Amazon will pay $61 per share, valuing iRobot at a 22 percent premium to its previous closing price of $49.99. In Friday trading, iRobot’s stock increased 19% to $59.66. iRobot shares were more than twice that price during COVID-19 pandemic lockdowns, as hygiene-conscious consumers invested in premium vacuum cleaners. The acquisition fulfils a vision announced by Amazon in 2021.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.
