August 12, 2022

News of the Trade

Latest trading, investing, and financial news

Amazon to buy the company behind the Roomba in a $1.7 billion deal

The deal, which is pending approval from shareholders and regulators, has the potential to expand Amazon’s robotics lineup and deepen its presence in consumers’ homes. Last year, Amazon introduced a home robot called Astro. The $999 20-pound dog-like robot zooms from room to room, capturing live video and learning your habits.
“Over many years, the iRobot team has proven its ability to reinvent how people clean with products that are incredibly practical and inventive,” said Dave Limp, SVP of Amazon Devices. “I’m excited to work with the iRobot team to invent in ways that make customers’ lives easier and more enjoyable.”
After launching the first Roomba in 2002, iRobot went on to develop multiple generations of robot vacuums, mops and air purifiers that will now fall under Amazon’s product catalog.
Shares of iRobot surged nearly 20% in pre-market trading Friday following the announcement.