Roomba Vacuum Maker Purchased By Amazon

Amazon (AMZN) and iRobot (IRBT), the maker of the Roomba vacuum, announced that Amazon would purchase the consumer robotics company in a $1.7 billion deal, or $61 per share, on Friday. The purchase includes iRobot's net debt. It still needs to face approval from iRobot shareholders and has regulatory hurdles it also needs to go through. Amazon already makes similar products to that of iRobot. However, it is unclear what Amazon's plans are with the purchase of iRobot's technology.