In a joint announcement on Monday, Amazon and iRobot revealed their decision to abandon plans for a merger due to resistance from EU antitrust regulators.
Citing insurmountable challenges in gaining regulatory approval in the European Union, Amazon acknowledged that its proposed one point four billion dollars acquisition of iRobot faced substantial opposition.
The European Commission’s antitrust concerns, particularly related to potential market interference in France, Germany, Italy, and Spain, led to the anticipated blockage of the deal.
Amazon expressed disappointment over the outcome, emphasizing its belief in the future of consumer robotics and admiration for iRobot’s products.
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