Amazon will acquire iRobot for $61 per share

Amazon will acquire iRobot for $61 per share in an all-cash transaction.

iRobot has been designing robot vacuums since 2002

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The deal is valued at approximately $1.7 billion

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The $1.7 billion all-cash deal includes iRobot's net debt

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IRobot shares rose 19% to $59.54 in recent trading

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iRobot sells its products worldwide and is most famous for the Roomba vacuum

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The purchase would be Amazon’s fourth-largest acquisition

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iRobot was founded way back in 1990 by Colin Angle, Rodney Brooks and Helen Greiner

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The deal is subject to approval by shareholders and regulator

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Current iRobot CEO Colin Angle will remain in his role after the acquisition is complete.

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