Amazon has announced the acquisition of global consumer robot company iRobot for $1.7 billion in an all-cash transaction.
iRobot introduced the first Roomba robot vacuum in 2002 and has sold millions of robots worldwide for cleaning, mapping and navigation.
“Over the years, the iRobot team has proven its ability to reinvent how people clean with products that are incredibly practical and innovative for automatically emptying collection bins, avoiding common household obstacles,” said Dave. Limp, SVP of Amazon Devices.
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Following the completion of the transaction, Colin Angle will remain as CEO of iRobot.
“Since we started iRobot, our team has been on a mission to create innovative, practical products that make consumers’ lives easier, leading to inventions like Roomba and iRobot OS,” said Angle, chairman and CEO.
“Amazon shares our passion for creating thoughtful innovations that empower people to do more at home, and I can’t think of a better place for our team to continue our mission,” he added.
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Completion of the transaction is subject to customary closing conditions, including the approval of iRobot’s shareholders and regulatory approvals.
Dominated by house-cleaning robots, the global customer service robotics market grew 25 percent (year-over-year) in shipments last year, a report showed this week.
The consumer robot market is projected to grow at a compound annual growth rate (CAGR) of 27 percent over the next four years, according to Counterpoint’s IoT service.
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“Home cleaning robots, which mainly include robot vacuums, are the most dominant category in the robotics industry, capturing two-thirds of the total customer service robotics market,” said senior research analyst Anshika Jain.
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