Roomba maker iRobot doubts it can survive the next 12 months

The big picture: iRobot, best known for its Roomba brand of robotic vacuum cleaners and floor mops, was a pioneer in the early days of home autonomy. For a while, the Roomba name itself became synonymous with robotic vacuums and many erroneously thought it was actually the company's name. Now, iRobot has warned investors that it might not survive the next 12 months as it continues to explore the possibility of a sale or a strategic partnership. iRobot's success spawned a whole new industry, and it didn't take long for competitors to bring rival cleaning bots to market – often at lower price points or with more features. In the midst of a shifting landscape, iRobot in the summer of 2022 agreed to sell its business to Amazon as part of an all-cash deal valued at $1.7 billion, or $61 per share. At the time, the deal represented a 22 percent premium over iRobot's share price. The good times, however, would not last. Roughly a year and a half later, Amazon terminated what would have been ... Read full article.