Amazon to buy vacuum maker iRobot for $1.66B.
NEW YORK — Amazon on Friday announced it has agreed to acquire the vacuum cleaner maker iRobot for approximately $1.7 billion, scooping up another company to add to its collection of smart home appliances amid broader concerns about the company’s market power.
Amazon said it will acquire iRobot for $61 per share in an all-cash transaction that will include iRobot’s net debt. The company has total current debt of approximately $332.1 million as of July 2. The deal is subject to approval by shareholders and regulators. Upon completion, iRobot’s CEO, Colin Angle, will remain in his position.
iRobot’s early ventures led to rovers that could perform military and disaster-relief tasks in the aftermath of the Sept. 11 attacks. The company spun off its defense robotics division in 2016 to become almost exclusively a seller of vacuums and some other home robots, such as the Braava robotic mop. It planned to launch a The purchase of iRobot is Amazon’s fourth-largest acquisition, led by its $13.7 billion deal to buy Whole Foods in 2017.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
California proposes $1.65B film tax credit to draw productions from anti-abortion statesGov. Gavin Newsom proposed to extend the tax credit to the film/TV industry in California to draw production from anti-abortion states. The bill would provide $1.65B.
Read more »
Ryan Day makes $1 million donation to Ohio State to fund mental health researchEditor's note: If you or someone you know is having thoughts of suicide, the National Suicide Prevention Lifeline is available 24 hours a day at 1-800-273-8255.
Read more »
California Readies $1.65B Film/TV Tax Credit to Draw Productions From Anti-Abortion StatesIn an open letter to Hollywood, Gov. Gavin Newsom called on companies to stop doing business in states that have 'waged a cruel assault on essential rights' in the wake of the Supreme Court's decision.
Read more »
Brevan Howard raises more than $1 billion for crypto fund: BlockworksBrevan Howard Asset Management’s digital assets-focused vehicle has raised as much as $1.5 billion from institutional investors, Blockworks reported.
Read more »
SAG-AFTRA Collects $1 Billion In Member Dues & Non-Member Fees In Its First 10 Years As Membership Climbs To Record HighsEXCLUSIVE: SAG-AFTRA has collected more than $1 billion in dues and “agency fees” from its active members and financial core non-members since its founding 10 years ago with the merger of SAG and A…
Read more »
Ryan and Nina Day Donate $1 Million to Launch Mental Health Resilience Fund at Ohio State Medical CenterThe Nina and Ryan Day Resilience Fund will help Ohio State fund research into mental health and creating preventive strategies to help people maintain mental wellness.
Read more »