TECH BUYOUT - Amazon says it will acquire the company for $61 per share in an all-cash transaction that will include iRobot's net debt.
NEW YORK — Amazon on Friday announced it has agreed to acquire the vacuum cleaner maker iRobot for approximately $1.7 billion, scooping up another company to add to its collection of smart home appliances amid broader concerns from anti-monopoly and privacy advocates about Amazon's market power and ability to gain deeper insights into consumers' lives.
Amazon's Astro robot, which helps with tasks like setting an alarm, was unveiled last year at an introductory price of $1,000. But its rollout has been limited and has received a lackluster response. On Friday, iRobot reported its quarterly results. Revenue plunged 30% primarily on order reductions and delays, and the company announced it was laying off 10% of its workforce.
On Friday, groups advocating for stricter antitrust regulations called on regulators to block the iRobot merger, arguing it gives Amazon more access into consumers' lives and furthers its dominance in the smart home market. Landmark antitrust legislation targeting Amazon and other Big Tech companies has languished for months in Congress as prospects for votes by the full Senate or House have dimmed.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon to buy vacuum maker iRobot for roughly $1.7BThe company iRobot sells its products worldwide and is most famous for the circular-shaped Roomba vacuum.
Read more »
Amazon to buy vacuum maker iRobot for roughly $1.7BThe company iRobot sells its products worldwide and is most famous for the circular-shaped Roomba vacuum.
Read more »
Amazon buys Roomba maker iRobot in $1.7B deal, its newest expansion into home devicesAmazon has acquired robotics manufacturer iRobot -- famous for its 'Roomba' --- for a whopping $1.7B, showing their commitment to the home device and robotics markets.
Read more »
Amazon Workers in the UK Walk Out in a Cost-of-Living RebellionAfter news of a “pointless” pay increase spread, workers at three warehouses stopped work to demand higher wages as inflation and interest rates surge.
Read more »
Amazon Prime Video Reveals Plans for an Emmy FYC Fest This Month (EXCLUSIVE)Amazon Prime Video is activating its Emmy Phase 2 plans, throwing an “FYC Fest” the weekend of Friday, Aug. 12 through Sunday, Aug. 14 to tout its 30 Emmy nominations. The weekend event…
Read more »
Score These Running Arm Band Phone Holders on Sale at Amazon Before They Sell OutThis armband is great for anyone who likes to stay organized during their workouts. It has specific spots to hold your keys, cards, and cash, and even has a headphone holder that can help prevent wires from tangling. It fits any phone size, and has a Velcro band that is super secure and easy to adjust.
Read more »