Irobot Corporation news a new development has appeared in the middle.In a move that signals Amazon’s continued push into the smart home the company has announced that it will be acquiring iRobot the maker of the Roomba vacuum for $1.7 billion. The deal is expected to close by the end of this year.
iRobot has been at the forefront of the robotics revolution and its Roomba vacuums have become one of the most popular consumer robots in the world. With Amazon’s backing iRobot will be able to accelerate its plans to develop more advanced robots for the home including ones that can autonomously clean floors and provide other services.
This is just the latest in a string of acquisitions by Amazon as it looks to consolidate its position in the smart home market. In recent years it has acquired companies like Ring (doorbells and security cameras) Blink (wireless security cameras) and SmartThings (smart home platform).
Irobot Corporation News
The news sent iRobot’s stock soaring more than 20% in premarket trading on Monday.
iRobot was founded in 1990 and has sold more than 25 million Roomba vacuums since 2002. The company also makes a mopping robot called the Braava.