Since debuting the Roomba vacuum in 2002, iRobot (NASDAQ:IRBT) has continued to thrill customers with each new product generation, saving them time formerly spent on home duties. iRobot’s team has created cutting-edge cleaning products that people adore.
Amazon (NASDAQ:AMZN) and iRobot (NASDAQ:IRBT) announced today that they have entered into a definitive agreement to merge, with Amazon (NASDAQ:AMZN) acquiring iRobot (NASDAQ:IRBT). iRobot (NASDAQ:IRBT) has a history of providing revolutionary home cleaning solutions that make customers’ lives easier.
iRobot (NASDAQ:IRBT) has continued to innovate with each new product generation, addressing complex problems to give consumers back valuable time.
Dave Limp, vice president of Amazon (NASDAQ:AMZN) Devices, remarked, “we understand that saving time is essential, and that time spent on chores could be better spent doing something that consumers enjoy.”
Over many years, the iRobot team (NASDAQ:IRBT) has demonstrated its capacity to change how people clean with efficient and innovative solutions, such as cleaning when and where consumers want, avoiding frequent household barriers, and automatically emptying the collecting container.
“Customers adore iRobot (NASDAQ:IRBT) products, and I’m eager to collaborate with the iRobot (NASDAQ:IRBT) team to create methods to simplify customers’ lives and make them more fun.”
“Since iRobot’s inception, our team’s objective has been to develop innovative, valuable products that make customers’ lives easier, resulting in inventions such as the Roomba and iRobot OS; according to Colin Angle, chairman and CEO of iRobot (NASDAQ:IRBT).”
“Amazon (NASDAQ:AMZN) shares our passion for creating inventions that empower people to achieve more at home. I cannot imagine a better environment for our team to pursue its mission. I’m incredibly delighted to join the company (NASDAQ:AMZN) and to see what we can achieve for customers in the following years.”
Including iRobot’s net debt, Amazon (NASDAQ:AMZN) will buy iRobot (NASDAQ:IRBT) for $61 per share in an all-cash transaction valued at approximately $1.7 billion. The completion of the acquisition is contingent on standard closing conditions, including shareholder and regulatory approvals. Colin Angle will continue to serve as the chief executive officer of iRobot (NASDAQ:IRBT) following the completion of the project.
About Amazon
Amazon (NASDAQ:AMZN) is guided by four principles: client fixation as opposed to competition concentration, enthusiasm for creation, commitment to operational quality, and long-term thinking. The company (NASDAQ:AMZN) aspires to be the Most Customer-Centric Company on Earth, the Best Employer on Earth, and the Safest Workplace.
The corporation (NASDAQ:AMZN) pioneered several innovations, including customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon (NASDAQ:AMZN), AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon (NASDAQ:AMZN) Studios, and The Climate Pledge.
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