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Amazon Jettisons Plans for $1.7 Billion iRobot Purchase
AmazonAmazon(US:AMZN) PYMNTS·2024-01-30 00:17

Citing a tough regulatory environment, Amazon has called off its $1.7 billion purchase of iRobot.The tech giant announced Monday (Jan. 29) that its agreement to purchase the robot vacuum maker — first signed in 2022 — “has no path to regulatory approval” in the European Union (EU) and was therefore being canceled by the two companies.“We’re disappointed that Amazon’s acquisition of iRobot could not proceed,” David Zapolsky, Amazon SVP and General Counsel, said in a news release, calling it the result of “un ...