Amazon.com Inc will acquire iRobot Corp, maker of the robotic vacuum cleaner Roomba, in an all-cash deal for about $1.7 billion in the latest push by the world's largest online retailer to expand its stable of smart home devices.
Amazon will pay $61 per share, valuing iRobot at a 22 percent premium to its previous closing price of $49.99. In Friday trading, iRobot's stock increased 19% to $59.66. iRobot shares were more than twice that price during COVID-19 pandemic lockdowns, as hygiene-conscious consumers invested in premium vacuum cleaners. The acquisition fulfils a vision announced by Amazon in 2021.