Financial Markets

AMAZON IS BUYING IROBOT FOR $1.7B

iRobot is best known for pioneering the robotic vacuum. The company was founded in 1990 by MIT Artificial Intelligence Lab members Colin Angle, Rodney Brooks and Helen Greiner. Amazon has been aggressively tackling the robotics space in the decade since it acquired Kiva Systems, though the Amazon Robotics division is focused solely on its warehouse/fulfillment play. Amazon Devices SVP Dave Limp said in the release that the deal will accelerate its ability to launch non-Roomba systems.
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