Amazon and iRobot Cancel Merger Deal Due to Regulatory Hurdles, iRobot Announces Layoffs
Published: 29 January 2024 at 14:06
Business
Amazon and iRobot have announced the cancellation of their proposed merger due to regulatory hurdles, particularly in the European Union (EU). The EU\'s executive branch, the European Commission, had raised concerns about the potential impact on competition. As a result of the deal falling through, iRobot is laying off about 350 employees, representing 31% of its workforce. iRobot\'s CEO, Colin Angle, is also stepping down. Amazon criticized regulators for hindering innovation, while iRobot expressed disappointment but vowed to continue building innovative home products. Amazon will pay iRobot a $94 million termination fee.
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