Amazon is diving deeper into the connected-home market and consumer robotics with its latest acquisition.
The retail and tech giant has agreed to acquire iRobot, maker of the popular Roomba robotic vacuum, in an all-cash deal valued at about $1.7 billion, including debt. The deal marks Amazon’s second billion-dollar acquisition in less than a month (and fourth largest ever). In late July, the company entered into an agreement to acquire One Medical, a membership-based primary health care provider, for $3.9 billion
iRobot was founded in 1990 by the Massachusetts Institute of Technology roboticists. It is best known for its Roomba robot vacuum, which it introduced in 2002. The company has expanded its product portfolio over the years and it now includes technologies and advanced concepts in cleaning, mapping and navigation that are designed to help consumers make their homes easier to maintain and healthier places to live.
Source: Chain Store Age
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