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.