: Amazon to buy Roomba maker iRobot as ‘discount shopping’ spree continues

by | Aug 5, 2022 | Stock Market

Just weeks after announcing its plans to buy the operator of One Medical health clinics, Amazon.com Inc. said it would be making another deal, this time for Roomba maker iRobot Corp.. The e-commerce giant plans to buy iRobot
for $61 a share in cash, in a deal that values the maker of robotic cleaning products at about $1.7 billion, including debt.

Shares of iRobot were up 19.1% in Friday morning trading to a recent $59.54. The stock closed Thursday at $49.99. Amazon’s stock
was off 0.3% Friday. “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,” Amazon Devices senior vice president Dave Limp said in a release. “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.” Amazon didn’t specify future plans for iRobot in the release, but it’s likely that the company has bigger plans in store beyond selling robotic vacuums, as iRobot also makes smart-home devices and mapping and navigation products. The e-commerce giant “continues to put the pieces together for a fully-integrated smart home, which inclu …

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