Amazon Ends iRobot Deal, Roomba Layoffs 2024

Amazon cancels the planned iRobot acquisition due to regulatory issues from the European Union.

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iRobot, maker of Roomba, to lay off 31% of employees (around 350 people) after deal termination.

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iRobot's CEO, Colin Angle, steps down immediately.

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iRobot shares drop 10% in morning trading following the news.

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The data collected by Roomba had also raised questions.

The Wall Street Journal reports uncertainty as the EU denies approval for the deal.

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EU Commission expresses concerns about Amazon hindering iRobot rivals on its online marketplace.

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Amazon is disappointed and cites a lack of regulatory approval in a release.

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iRobot shifts focus: margin improvements, reduced R&D spending, and pause on non-floorcare products.

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Amazon pays iRobot a $94 million breakup fee despite the terminated $1.7 billion deal.

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iRobot's market cap dropped below $400 million after the EU blocked the acquisition.

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In July, iRobot secures a $200 million financing facility from Carlyle Group.

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Amazon is silent beyond the released statement.

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Global regulators scrutinize tech giants; Amazon is under FTC-

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