E-commerce retailer Amazon and US technology company iRobot have announced a shared agreement of acquisition.
The tech company is best known for developing domestic machines, specifically the Roomba series of autonomous vacuum cleaners.
“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.”
Amazon will acquire iRobot for US$61 (£50) per share in a cash transaction, which has been valued at approximately US$1.7bn (£1.39bn), a figure which includes iRobot’s debt.
Complete acquisition is still subject to certain closing conditions, such shareholder approval and regulatory approvals. On completion, Colin Angle will continue to be CEO of iRobot.
