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Friday, February 23, 2024

Amazon’s $1.7 billion deal to purchase iRobot is working into some objections


European Union regulators have despatched a press release of objections to Amazon in regards to the firm’s proposed $1.7 billion acquisition of Roomba maker iRobot. In a press launch, the European Fee says that it “has knowledgeable Amazon of its preliminary view that its proposed acquisition of iRobot might limit competitors out there for robotic vacuum cleaners.”

The European Fee’s assertion of objections comes as considerably of a shock, as Reuters reported final week that the deal was set to win unconditional approval.

In its assertion of objections, the European Fee additionally says that Amazon might have the “capacity and the inducement to foreclose iRobot’s rivals” by doing issues like delisting rival robotic vacuum cleaners or decreasing their visibility on the Amazon market. Amazon can now reply to the assertion of objections and request an oral listening to. The Fee will make a remaining choice in regards to the deal by February 14th, 2024.

“We proceed to work by the method with the European Fee and are targeted on addressing its questions and any recognized issues at this stage,” Amazon spokesperson Alexandra Miller says in a press release to The Verge. “iRobot, which faces intense competitors from different vacuum cleaner suppliers, presents sensible and creative merchandise. We imagine Amazon can supply an organization like iRobot the sources to speed up innovation and put money into essential options whereas decreasing costs for shoppers.”

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