What's next for iRobot?

In this episode, co-hosts Steve Crowe, Mike Oitzman and Gene Demaitre discuss the recent news about the termination of the proposed acquisition of iRobot by Amazon. As a result of the terminated deal, iRobot CEO and cofounder Colin Angle is stepping down from his role as CEO, and the company has laid off 31% of its employees. The companies signed the proposed acquisition agreement on Aug. 4, 2022, and the Seattle-based e-commerce giant would have acquired the Bedford, Mass.-based robotic vacuum vendor for up to $1.7 billion in cash. That amount was lowered to $1.42 billion after iRobot acquired new debt, and it laid off 10% of its staff, or about 140 employees. We discuss potential reasons why the deal failed, and what might be next for iRobot. You can read the complete news story about this on The Robot Report at www.therobotreport.com If you like the show, please like and subscribe and share this with another colleague who might be interested.