Amazon will acquire iRobot for $61 per share in an all-cash transaction.
iRobot has been designing robot vacuums since 2002
The deal is valued at approximately $1.7 billion
The $1.7 billion all-cash deal includes iRobot's net debt
IRobot shares rose 19% to $59.54 in recent trading
iRobot sells its products worldwide and is most famous for the Roomba vacuum
The purchase would be Amazon’s fourth-largest acquisition
iRobot was founded way back in 1990 by Colin Angle, Rodney Brooks and Helen Greiner
The deal is subject to approval by shareholders and regulator
Current iRobot CEO Colin Angle will remain in his role after the acquisition is complete.