IRobot said today that company and Amazon have signed a binding merger agreement under which Amazon would buy IRobot.

For iRobot, Amazon will pay $61 per share, or around $1.7 billion. That represents a 20% premium above the stock price of iRobot as of Thursday’s closure.

According to Dave Limp, SVP of Amazon Devices, “We recognize that making time savings is important since chores eat up valuable time that can be better spent doing something that consumers enjoy.” With solutions that are incredibly useful and innovative, the iRobot team has demonstrated over many years its capacity to redefine how people clean, from cleaning when and where consumers want while avoiding frequent impediments in the home to autonomously emptying the collecting bin. Customers adore iRobot products, and I’m eager to collaborate with the team to develop ideas that will make customers’ lives more convenient and pleasurable.

Advertisement IROBOT: WHY IS AMAZON BUYING IT? Amazon has been expanding its hardware portfolio in recent years by acquiring businesses like Ring and eero. And iRobot will now be included in the mix. It will be much simpler for Amazon to develop a complete smart home ecosystem for everyone as a result.

And iRobot is the best brand to buy if you want a robot vacuum. For many years, iRobot has been associated with robot vacuums. Roomba and Android are like Galaxy and robot vacuums. Many people claim to have a Roomba instead of a robot vacuum, even though it’s not an iRobot device. This was therefore the optimal decision for branding on Amazon’s part.

With this announcement, it would not be surprising to see many customers give up on Roombas in favor of a different brand. After all, we seen this when Google acquired Nest and when Amazon acquired eero and Ring. To see what Amazon does with iRobot, though, will be intriguing.

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