No, iRobot is not currently being bought out. The previously announced acquisition agreement between Amazon and iRobot has been terminated.
Amazon (NASDAQ: AMZN) and iRobot (NASDAQ: IRBT) mutually agreed to end their acquisition agreement, which was originally signed on August 4, 2022. The termination of this pending acquisition was announced on January 29, 2024. Under the terms of the original agreement, Amazon would have acquired iRobot for cash consideration.
Key Details of the Terminated Acquisition
- Parties Involved: Amazon and iRobot
- Original Agreement Date: August 4, 2022
- Termination Date: January 29, 2024
- Nature of Termination: Mutual agreement between both companies.
- Original Terms: Amazon was set to acquire iRobot for cash.
This mutual decision means that iRobot will continue to operate independently, rather than becoming a part of Amazon. The companies had initially entered into the agreement with the intention for Amazon to acquire the robotic vacuum cleaner maker. However, they have since agreed to cease that arrangement.
