Amazon is sucking up Roomba maker iRobot for $1.7 billion | TUSEN News

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Amazon announced Friday that it has entered into an agreement to acquire vacuum cleaner maker iRobot for approximately $1.7 billion.

It’s a move that will allow Amazon to pick up another company to add to its collection of smart home appliances amid wider concerns about its market power.

iRobot sells its products worldwide and is best known for the Roomba circular vacuum cleaner.

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Amazon says it will acquire the company for $61 a share in a cash transaction that includes iRobot’s net debt.

The deal has yet to be approved by shareholders and regulators. Upon completion, iRobot’s CEO, Colin Angle, will remain in his position.

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