Amazon is buying the corporate that makes Roomba, the roving vacuum cleaner, in a $1.7 billion deal, the businesses introduced on Friday.
The all-cash acquisition values iRobot at $61 per share. The corporate’s inventory jumped 19% to shut at $59.54.
Like many electronics corporations iRobot’s gross sales have been off this yr as inflation crimps demand for devices, however Amazon has been investing closely within the house.
Final yr, the Seattle-based internet large launched a house safety and cleansing system referred to as the Astro Dwelling. The robotic, which prices $1,000 patrols the home for intruders whereas performing chores. Final yr, Amazon additionally launched a flying digital camera that mixes its Ring know-how with a drone to fly round prospects’ dwelling and take safety footage.
A Roomba robotic additionally prices as a lot as $1,000 and has been round since 2002. iRobot was based in 1990 by engineers on the Massachusetts Institute of Know-how.
iRobot chief govt Colin Angle will stay on the helm of the corporate after the deal is accomplished, the businesses stated.
“Over a few years, the iRobot crew has confirmed its means to reinvent how folks clear with merchandise which can be extremely sensible and creative—from cleansing when and the place prospects need whereas avoiding widespread obstacles within the dwelling, to robotically emptying the gathering bin,” Amazon’s senior vp of Units, Dave Limp stated in an announcement.