Amazon has just announced that it will acquire iRobot in an all-cash deal for about $1.7 billion, and Colin Angle will continue to serve as iRobot’s chief executive after the deal closes.
Reuters said the world’s largest online retailer will buy the company for $61 per share, valuing the company at a 22 percent premium to the stock’s last closing price.
Amazon’s second-quarter net sales were $121.234 billion, up 7 percent from $113.080 billion a year earlier, compared with net income of $7.778 billion a year earlier; diluted loss per share was $0.20, compared with diluted earnings per share of $0.76 a year earlier.
For the 12 months ended June 30, 2022, Amazon’s cash flow from operations was $35.6 billion, down 40 percent from the prior year period, and for the 12 months ended June 30, 2021, Amazon’s cash flow from operations was $59.3 billion.
According to publicly available information, iRobot is an American robotics company incorporated in Delaware in 1990. It is also a publicly traded company headquartered in Bedford, Massachusetts. The company designs and manufactures military robots, commercial robots, medical robots and home robots, and is best known for its Roomba, an automatic home vacuuming robot. Other notable products include Scooba, an automatic home scrubber, and PackBot, a military robot.
iRobot reported a loss of 35 cents per share for the second quarter, compared to an expected loss of $1.57, and revenue of $255 million for the second quarter, compared to an expected $301 million.
