advertisement

Amazon on Friday announced it has entered into an agreement to acquire the vacuum cleaner maker iRobot for approximately $1.66 billion.

The company sells its robots worldwide and is most famous for the circular-shaped Roomba vacuum.

Amazon said it will acquire iRobot for $61 per share in an all-cash transaction that will include iRobots net debt of about $275.6 million. The deal is subject to approval by shareholders and regulators.

advertisement

Upon completion, iRobots CEO, Colin Angle, will remain in his position.

Separately, Bedford, Massachusetts-based iRobot reported its quarterly results. Revenue plunged 30% on order reductions and delays, and the company announced it was laying off 10% of its workforce.