Roomba maker warns of potential closure amid financial woes

Photo: iRobot

iRobot, the company behind the iconic Roomba vacuum cleaner, has issued a dire warning to investors, stating it may cease operations within the next 12 months. The announcement follows the collapse of a planned acquisition by Amazon due to regulatory hurdles and comes amidst intense competition from Chinese manufacturers. The company has since undergone significant restructuring, including substantial layoffs and a sharp expense reduction. iRobot's stock plummeted roughly 36% following the news, reflecting investor concerns about the company's future viability.

SOURCE

Amazon to purchase Roomba maker iRobot in US$1.7 billion deal

Source iRobot

Amazon has just signed an agreement with iRobot, the company behind Roomba robot vacuum cleaners, to buy the company for US$1.7 billion (around CA$2.2 billion). It'll be an all-cash transaction for US$61 (approx. CA$79) per share. Colin Angle, iRobot's CEO, will remain in his position.

As CNET noted, Amazon has been a market leader in smart home devices, but a vacuum cleaner hasn't been introduced in its wheelhouse yet. The company didn't detail how it plans to integrate iRobot with the rest of the company.

Tech gifts you'll want to give and receive

It’s inevitable that tech will be included in your gifts this year. According to a recent survey commissioned by The Mobile Shop, we've learned that smartphones or smartphone accessories are topping many Canadian holiday wishlists with almost 25% of us planning to spend $50 or more in the categories. What else tops the list? 44% of Canadian would most like to receive Bluetooth headphones or a Bluetooth speaker. 21% of us want portable chargers, and 20% of us would love a new phone case or phone wallet. Not surprising, only 1% of Canadians surveyed would like a pop socket. 

So, with all that swirling in our minds here are some additional tech gift ideas to give and to get...

Click to read more ...