iRobot Corporation is a technology company that specializes in building autonomous cleaning devices and consumer robots. The company was founded in 1990 with its headquarters in Massachusetts, USA. In 2002, iRobot released its robotic vacuum cleaner, Roomba, and by 2004 it had sold over 1 million units. In 2016, the company sold its military robotic division to a US based private equity firm, Arlington Capital Partners.
According to recent reports, iRobot has announced that it will be letting go of 350 employees in a bid to restructure and stabilize the company’s operations. The report further mentions that the company plans to pause all non-floorcare initiatives including their air purification and robotic lawn mower products.
This announcement comes after the acquisition deal with Amazon was terminated due to European antitrust regulations. In 2022, Amazon offered to buy the company for about $1.42 billion USD, now this abandoned acquisition will have Amazon paying a termination fee of $94 million USD.
