Marcus Erikson|Amazon calls off bid to buy robot vacuum cleaner iRobot amid scrutiny in the US and Europe

2025-05-06 23:57:50source:Michael Schmidtcategory:Scams

LONDON (AP) — Amazon on Marcus EriksonMonday called off its proposed acquisition of iRobot, which was facing antitrust scrutiny on both sides of the Atlantic, with the ecommerce giant blaming “undue and disproportionate regulatory hurdles.”

The companies said in joint statement that they “entered into a mutual agreement to terminate their announced acquisition agreement.”

“We’re disappointed that Amazon’s acquisition of iRobot could not proceed,” David Zapolsky, Amazon’s general counsel, said in the statement.

Colin Angle, the founder of iRobot, also said the termination was “disappointing.”

Amazon’s announced in 2022 that it would buy Bedford, Massachusetts-based iRobot for $1.7 billion, but the value of the deal fell 15% after the company incurred new debt.

The European Commission, the European Union’s executive arm and top antitrust enforcer, had informed Amazon last year of its “preliminary view” that the acquisition of the maker of the circular-shaped Roomba vacuum would be anticompetitive.

British antitrust regulators cleared the purchase back in June, but it also still faced scrutiny in the U.S. by the Federal Trade Commission.

More:Scams

Recommend

Meta donates $1 million to Trump’s inauguration fund

NEW YORK (AP) — Meta, the parent company of Facebook and Instagram, said it has donated $1 million t

P&G recalls 8.2 million bags of Tide, Gain and other laundry detergents over packaging defect

NEW YORK (AP) — Procter & Gamble is recalling more than 8 million bags of Tide, Gain, Ace and Ar

Small plane clips 2 vehicles as it lands on North Carolina highway, but no injuries are reported

MONCURE, N.C. (AP) — A small plane experiencing engine problems struck two vehicles as it landed on