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Amazon’s $1.4bn acquisition of iRobot is over
Amazon's $1.4 billion acquisition of iRobot has been canceled, the two companies announced today, reports PR Newswire.
The collapsed acquisition, which was originally signed in August 2022, is blamed on there being “no path to regulatory approval in the European Union.” Alongside the announcement, the maker of the Roomba c onfirmed it was laying off around 350 employees as a result, which is roughly 31% of its entire workforce. Undue and disproportionate regulatory hurdles discourage entrepreneurs, who should be able to see acquisition as one path to success, and that hurts both consumers and competition – the very things that regulators say they’re trying to protect.” Colin Angle said: “The termination of the agreement with Amazon is disappointing, but iRobot now turns toward the future with a focus and commitment to continue building thoughtful robots and intelligent home innovations that make life better, and that our customers around the world love.”
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