Tag Archives: Amazon takeover

Amazon’s $1.7 billion deal to buy iRobot is running into objections

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European Union regulators have sent a statement of objections to Amazon about the company’s proposed $1.7 billion acquisition of Roomba maker iRobot. In a press release, the European Commission says that it “has informed Amazon of its preliminary view that its proposed acquisition of iRobot may restrict competition in the market for robot vacuum cleaners
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https://www.ft.com/content/344cfc58-2855-4d62-990f-31df1462255a

Amazon can engage with the regulator to address its concerns. The EU has a February 14 deadline to reach a final decision.

Amazon said it would “continue to work through the process with the European Commission and focused on addressing its questions and any identified concerns”.

iRobot shares fell almost 20 per cent

Amazon takeover of iRobot faces UK watchdog review

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Amazon’s planned takeover of Roomba vacuum cleaner maker iRobot is being reviewed by the UK’s competition watchdog.

The Competition and Markets Authority (CMA) is looking at whether the deal could lead to “a substantial lessening of competition”.

Amazon is seeking to grow its operations for smart home appliances.

Both Amazon and iRobot have both said they are “working co-operatively” with regulators.

Amazon announced it was buying iRobot last year in a $1.7bn (£1.4bn) takeover deal.

Roomba models sell in the UK from £249, with some costing up to £899.Both Amazon and Massachusetts-based iRobot said they were “working co-operatively” with the relevant regulators over the merger.