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Monday, August 8, 2022

Amazon acquires Massachusetts-based iRobot in massive deal – Boston 25 News

BEDFORD, Mass. — Amazon has bought Bedford-based iRobot in a massive cash transaction that also absorbs the household robotics company’s debt.

Amazon is acquiring iRobot for $61 per share in a merger agreement valued at about $1.7 billion, Dave Limp, SVP of Amazon Devices, said in a news release.

“We know that saving time matters, and chores take precious time that can be better spent doing something that customers love,” Limp said. “Over many years, the iRobot team has proven its ability to reinvent how people clean with products that are incredibly practical and inventive—from cleaning when and where customers want while avoiding common obstacles in the home, to automatically emptying the collection bin. Customers love iRobot products—and I’m excited to work with the iRobot team to invent in ways that make customers’ lives easier and more enjoyable.”

Since introducing the Roomba vacuum in 2002, iRobot has continued to save customers valuable time previously spent on household chores by rolling out an array of innovative cleaning products.

“Since we started iRobot, our team has been on a mission to create innovative, practical products that make customers’ lives easier, leading to inventions like the Roomba and iRobot OS,” said Colin Angle, chairman and CEO of iRobot. “Amazon shares our passion for building thoughtful innovations that empower people to do more at home, and I cannot think of a better place for our team to continue our mission. I’m hugely excited to be a part of Amazon and to see what we can build together for customers in the years ahead.”

iRobot said it will lay off about 140 workers, or about 10 percent of its global workforce.

Completion of this transaction is subject to customary closing conditions and regulatory approvals.

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