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.
Create an account with the same email registered to your subscription to unlock access.
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.
-
Who actually needs life insurance?
The Explainer If you have kids or are worried about passing on debt, the added security may be worth it
By Becca Stanek, The Week US Published
-
Sexual wellness trends to know, from products and therapies to retreats and hotels
The Week Recommends Talking about pleasure and sexual health is becoming less taboo
By Theara Coleman, The Week US Published
-
Is the AI bubble deflating?
Today's Big Question Growing skepticism and high costs prompt reconsideration
By Joel Mathis, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published