(MENAFN) Amazon.com Inc. stated that it would purchase IRobot Corp., manufacturer of the Roomba vacuum, for USD1.65 billion as the e-commerce massive remains its drive into internet-linked home devices as well as robotics.
Amazon is going to pay USD61 a stock in cash for the Bedford, Massachusetts-based firm, as said in a statement on Friday.
The bid, that has USD1.7 billion valuation counting debt, signifies a premium of 22 percent according to iRobot’s last closing price before the declaration, Colin Angle is going to stay as head executive officer of IRobot.
The agreement, declared just two weeks after Amazon stated that it was purchasing up a chain of doctor’s offices, comes during expanding scrutiny of Amazon’s market power from antitrust regulators in the US as well as Europe.
Seattle-based Amazon has come miles as a hardware player after an unsuccessful venture into smartphones a little years ago, operating thoroughly to place the Alexa voice software and Echo smart speakers at the focal point of the burgeoning market for smart-home gadgets.
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