E-commerce giant Amazon and robotics company iRobot recently agreed to amend the terms of their previously announced merger agreement. Before the amendment, Amazon was set to acquire the Roomba manufacturer for $61 a share, totaling about $1.7 billion. Under the new terms, Amazon will pay $51.75 per share in cash.
Bedford, Massachusetts-based iRobot will enter into a $200 million financing facility to fund its ongoing operations. Its merger with Amazon will enable both companies to work together on new products meant to improve customers’ lives.
The transaction’s close is subject to customary closing conditions, including regulatory approvals as well as approval from iRobot’s stockholders of the amended merger agreement.
