Amazon to buy Roomba maker for $1.7 billion
Amazon will buy Roomba maker iRobot for $61 a share, or $1.7 billion in total, the companies announced Friday.
According to Reuters, "iRobot's stock rose 19% [on] Friday trading to $59.66," still less than half of its lockdown-era peak, when homebound consumers scrambled to buy Roombas.
"Customers love iRobot products — and I'm excited to work with the iRobot team to invent in ways that make customers' lives easier and more enjoyable," said Amazon hardware devices chief Dave Limp. In 2021, Limp said that "[i]n five to 10 years, we believe every home will have at least one robot that will become a core part of your everyday life."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Vice News notes the iRobot deal is not Amazon's first foray into home robotics. Last year, "Amazon revealed the Astro—a little Alexa on wheels" that was intended to map "the interior of a user's homes, even creating heat maps of highly trafficked areas." The $1,500 Astro hasn't sold well, but robot vacuums could provide an alternative way of collecting the same information. In addition to the full line of Roomba models, Amazon is also buying iRobot's trove of data, which includes digital maps of users' homes, Vice reports.
This announcement comes just weeks after Amazon purchased healthcare provider One Medical for $3.9 billion. That acquisition came with 767,000 patients and all their healthcare data.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Grayson Quay was the weekend editor at TheWeek.com. His writing has also been published in National Review, the Pittsburgh Post-Gazette, Modern Age, The American Conservative, The Spectator World, and other outlets. Grayson earned his M.A. from Georgetown University in 2019.
-
Drugmakers paid pharmacy benefit managers to avoid restricting opioid prescriptions
Under the radar The middlemen and gatekeepers of insurance coverage have been pocketing money in exchange for working with Big Pharma
By Theara Coleman, The Week US Published
-
The week's best photos
In Pictures A cyclone's aftermath, a fearless leap, and more
By Anahi Valenzuela, The Week US Published
-
The Imaginary Institution of India: a 'compelling' exhibition
The Week Recommends 'Vibrant' show at the Barbican examines how political upheaval stimulated Indian art
By The Week UK Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published