Amazon sucks up Roomba-maker iRobot for $1.7B

Amazon on Friday introduced it has entered into an settlement to accumulate the vacuum cleaner maker iRobot for about $1.7 billion.

It is a transfer that can enable Amazon to scoop up one other firm so as to add to its assortment of good residence home equipment amid broader considerations about its market energy.

iRobot sells its merchandise worldwide and is most well-known for the circular-shaped Roomba vacuum.

Amazon says it should purchase the corporate for $61 per share in an all-cash transaction that can embrace iRobot’s internet debt.

The deal is topic to approval by shareholders and regulators. Upon completion, iRobot’s CEO, Colin Angle, will stay in his place.