Amazon is Buying iRobot For $1.7 Billion

Amazon this morning announced plans to acquire iRobot for an all-cash deal valued at $1.7 billion. From a report: The home robotics firm, best known for pioneering the robotic vacuum, was founded in 1990 by MIT Artificial Intelligence Lab members Colin Angle, Rodney Brooks and Helen Greiner. Twelve years after its founding, the company introduced the Roomba, a brand that has since become synonymous with the branding, selling more than 30 million units as of 2020. Brooks and Greiner have gone on to found and lead several other companies, while Angle has remained on-board as CEO -- a position he will maintain post-acquisition. "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," CEO Colin Angle said in a release. "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."

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