Posted 1/29/2024, 2:59:39 PM
Amazon Cancels $1.7 Billion iRobot Acquisition Amid Global Antitrust Concerns
- Amazon will scrap its planned $1.7 billion acquisition of iRobot after antitrust concerns from European regulators
- Regulators said the deal would restrict competition in the robot vacuum market
- Amazon will pay iRobot a $94 million termination fee
- International regulators are increasingly deterring big tech mergers amid antitrust scrutiny
- The FTC also intended to challenge the deal in the US out of similar competition concerns