Amazon buying iRobot for 1.7 Billion, here's why

iRobot is an American-based company that has over 30 years of Robotic experience in Home robots.

On Friday Amazon announced they agreed to acquire iRobot for approximately 1.7 billion USD.

Now amazon going to add one more company to their collection of smart home appliances.

Amazon said it will acquire iRobot for $61 per share in an all-cash transaction which is a huge deal.

As we know iRobot sells its product worldwide and its most product is the Roomba vacuum.

Due to this deal iRobot shares are increased by 19% and Amazon shares have down by 1.4% during midday.

iRobot is running their platform on Amazon cloud service AWS and now we can expect more integration in their product.