Amazon to buy Roomba-maker iRobot in $1.7 bn deal / Photo: JUSTIN SULLIVAN - GETTY IMAGES NORTH AMERICA/AFP/File
-
India seeks trade, energy stability on UAE-Europe tour
-
Five things to look out for in La Liga this weekend
-
Man City battle 'fatigue' ahead of FA Cup final clash with troubled Chelsea
-
Egypt farmers hit by Iran war price surge
-
Harry Styles: from teen heart-throb to music icon
-
CIA director visits Cuba as communist island runs out of oil
-
Seahawks face Patriots in Super Bowl rematch to open NFL season
-
Scheffler's best start of year puts him in PGA lead logjam
-
LVMH sells Marc Jacobs to WHP Global, which will form partnership with G-III
-
No.1 Scheffler among seven to share first-round PGA lead
-
Rahm apologizes after hitting volunteer with divot in 'inexcusable' lapse
-
Madonna, Shakira, BTS to headline first World Cup final halftime show
-
Benched Mbappe complains Arbeloa said he was 'fourth forward'
-
CIA director visits Cuba as island runs out of oil
-
Closing arguments in blockbuster trial pitting Musk against OpenAI
-
Romanian metal, Aussie star through to Eurovision final
-
No.1 Scheffler grabs share of PGA lead as McIlroy endures misery
-
Mbappe whistled as Real Madrid beat Oviedo
-
US brokers between Israel, Lebanon and says progress with China
-
Trump to seek tangible trade wins in Xi summit
-
Harry and Meghan to produce Afghan war film: Netflix
-
Woods back in Florida after seeking treatment in wake of DUI arrest - report
-
Derby-winning jockey Jose Ortiz targets Preakness on new mount
-
Sinner faces Medvedev in Italian Open semis after breaking Masters win-streak record
-
Russia pummels Kyiv, killing at least 16 and denting peace hopes
-
McIlroy back to the drawing board to solve driving woes
-
Hungarian filmmaker Ildiko Enyedi tackles beauty and science
-
Cuba calls on US to lift blockade following aid offer
-
Eurovision second semi starts with a 'Bangaranga'
-
Mbappe, Dembele head up France squad for 2026 World Cup
-
Brazil renew Ancelotti contract until 2030
-
Four share PGA lead as McIlroy finds misery, No.1 Scheffler starts
-
Rome derby stays on Sunday after agreement with security authorities
-
Dior nods to Hollywood's Golden Age with Cruise collection
-
Fifth straight IPL loss for Punjab as Varma slams 75 for Mumbai
-
Better late than never, Higgo fires 69 after PGA penalty
-
Australia's Kerr to leave Chelsea Women at season's end
-
US tariffs, cyberattack drive Jaguar Land Rover into loss
-
Austrian feminist artist Valie Export dies aged 85
-
Russia pummels Kyiv, killing at least 10 and denting peace hopes
-
Israelis chant threats, anti-Palestinian slogans at Jerusalem Day march
-
New 'Godfather' novel to tell mafia story from women's perspective
-
South African Potgieter grabs early PGA clubhouse lead
-
NY's Met museum to take over Neue Galerie
-
US senators vote to withhold own pay in government shutdowns
-
Ballerini pounces for Giro win as sprint favourites crash
-
IMF sees risks to global growth forecast over sustained Iran war
-
China's Weichai wins battle for Ferretti yacht maker
-
Japan's Mitoma a major doubt for World Cup
-
Elliott's lack of action at Villa has been embarrassing: Emery
Amazon to buy Roomba-maker iRobot in $1.7 bn deal
Amazon on Friday announced a $1.7 billion deal to buy the maker of robotic vacuum Roomba in a merger that would play into the tech giant's artificial intelligence and smart home ambitions.
US-based iRobot is a global company that builds robots and "intelligent home" innovations, having introduced Roomba self-operating vacuums a decade ago, Amazon said in a release.
"Over many years, the iRobot team has proven its ability to reinvent how people clean with products that are incredibly practical and inventive," said Amazon senior vice president of devices Dave Limp.
Amazon's deal to buy iRobot for $61 per share along with acquiring the company's debt is subject to approval of shareholders and regulators.
Colin Angle is to remain chief executive of iRobot after the purchase.
The acquisition "reinforces Amazon's interest and market position in robotics and home automation, and underscores the strategic value of AI," Baird analyst Colin Sebastian said in a note to investors.
The Massachusetts-based company has a 30-year track record in robotics, and underlying software such as mapping and navigation, Sebastian said.
Amazon has been investing in smart home and automation technologies with acquisitions such as Ring doorbells, Kiva warehouse robots and self-driving startup Zoox.
"With Alexa and Amazon.com at the core, Amazon continues to prioritize opportunities to develop the smart home," Sebastian said.
"MGM even fits as it powers more Prime Video on home entertainment devices."
Amazon earlier this year closed an $8.45 billion deal to buy the storied MGM studios, boosting its streaming ambitions with a catalog including the James Bond and Rocky film franchises.
M.Thompson--AMWN