Month: January 2024
Amazon Terminates iRobot Deal, Roomba Maker to Lay off 31% of Staff
KEY POINTS
- Amazon and iRobot mutually agreed to call off their planned acquisition, writing that there was “no path” to regulatory approval and sending iRobot shares down sharply.
- iRobot, which makes the Roomba, said it will lay off around 350 employees and that its founder and CEO Colin Angle would step down.
- The Amazon-iRobot deal was originally valued at $1.7 billion, but a number of regulatory examinations drove the purchase price down before ultimately killing the deal.