Amazon Acquires Robot Vacuum Company iRobot for 2.2 Trillion Won

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Amazon announced on the 5th (local time) that it has signed a contract to acquire the robot vacuum cleaner company iRobot for a total of $1.7 billion (2.2 trillion KRW). The deal is valued at $61 per share (79,200 KRW).

iRobot is a company well known for its robot vacuum cleaner "Roomba." Dave Limp, Amazon's Senior Vice President, said, "For years, iRobot has proven its ability to reinvent cleaning with practical and innovative products," adding, "We are excited to work with the iRobot team to make consumers' lives easier and more enjoyable."

Amazon is evaluated to have strengthened its position in the robotics field through this acquisition. Previously, Amazon announced aggressive investments in robotics by unveiling the multifunctional home robot "Astro" last year.

This acquisition is the fourth largest following the organic food chain Whole Foods ($13.7 billion) in 2017, Hollywood film studio MGM ($8.45 billion) in 2021, and primary care provider One Medical ($3.9 billion).

As of this afternoon, iRobot's stock price is trading at more than 19% higher on the New York Stock Exchange. Amazon's stock has fallen by about 1.6%.