Amazon buys the home robot manufacturer iRobot for $1.7 billion

New Delhi, Aug 5 : Amazon on Friday announced it will buy Global consumer robot maker iRobot in a deal worth $1.7 billion in an all-cash transaction.

The closing of the deal is subject to normal closing conditions, including approval from the shareholders of iRobot and regulatory approvals.Robots for cleaning the house dominate The robots for consumer service reported a 25 percent shipment growth (year-on-year) in the year prior according to a report released this week.

The market for consumer robots is expected to expand at an annual rate of growth (CAGR) of 27 per percent during the next four years as per Counterpoints IoT service "House cleaners, which are primarily comprised of robot vacuums is the most popular category in the robotics market, capturing more than two-thirds of the total market for consumer service robotics," said senior research analyst Anshika Jain.na.