Amazon and iRobot Agree to Terminate Pending Acquisition
29 Janvier 2024 - 2:30PM
Business Wire
Amazon’s proposed acquisition of iRobot has no
path to regulatory approval in the European Union, preventing
Amazon and iRobot from moving forward together—a loss for
consumers, competition, and innovation.
Today Amazon (NASDAQ: AMZN) and iRobot (NASDAQ: IRBT) announced
that they have entered into a mutual agreement to terminate their
previously announced acquisition agreement, originally signed on
August 4, 2022, under which Amazon would have acquired iRobot for
cash consideration. This deal would have allowed Amazon to invest
in continued innovation by iRobot and support iRobot in lowering
prices on products customers already love. The companies released
the following statements today about the decision:
“We’re disappointed that Amazon’s acquisition of iRobot could
not proceed,” said David Zapolsky, Amazon SVP and General Counsel.
“We’re believers in the future of consumer robotics in the home and
have always been fans of iRobot’s products, which delight consumers
and solve problems in ways that improve their lives. Amazon and
iRobot were excited to see what our teams could build together, and
we’re deeply grateful to everyone who worked tirelessly to try and
make this collaboration a reality. This outcome will deny consumers
faster innovation and more competitive prices, which we’re
confident would have made their lives easier and more enjoyable.
Mergers and acquisitions like this help companies like iRobot
better compete in the global marketplace, particularly against
companies, and from countries, that aren’t subject to the same
regulatory requirements in fast-moving technology segments like
robotics. Undue and disproportionate regulatory hurdles discourage
entrepreneurs, who should be able to see acquisition as one path to
success, and that hurts both consumers and competition—the very
things that regulators say they’re trying to protect.”
“iRobot is an innovation pioneer with a clear vision to make
consumer robots a reality,” said Colin Angle, Founder of iRobot.
“The termination of the agreement with Amazon is disappointing, but
iRobot now turns toward the future with a focus and commitment to
continue building thoughtful robots and intelligent home
innovations that make life better, and that our customers around
the world love.”
The companies have signed a termination agreement that resolves
all outstanding matters from the transaction, including Amazon
paying iRobot the previously agreed upon termination fee.
About Amazon
Amazon is guided by four principles: customer obsession rather
than competitor focus, passion for invention, commitment to
operational excellence, and long-term thinking. Amazon strives to
be Earth’s Most Customer-Centric Company, Earth’s Best Employer,
and Earth’s Safest Place to Work. Customer reviews, 1-Click
shopping, personalized recommendations, Prime, Fulfillment by
Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire
tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology,
Amazon Studios, and The Climate Pledge are some of the things
pioneered by Amazon. For more information, follow @AmazonNews.
About iRobot
iRobot is a global consumer robot company that designs and
builds thoughtful robots and intelligent home innovations that make
life better. iRobot introduced the first Roomba robot vacuum in
2002. Today, iRobot is a global enterprise that has sold more than
50 million robots worldwide. iRobot's product portfolio features
technologies and advanced concepts in cleaning, mapping and
navigation. Working from this portfolio, iRobot engineers are
building robots and smart home devices to help consumers make their
homes easier to maintain and healthier places to live. For more
information about iRobot, please visit www.irobot.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240128042393/en/
Amazon: Amazon Investor Relations amazon-ir@amazon.com
Amazon Public Relations amazon-pr@amazon.com
iRobot: Karian Wong Investor Relations iRobot Corp. (781)
430-3003 investorrelations@irobot.com
Charlie Vaida Media Relations iRobot Corp. (781) 430-3182
cvaida@irobot.com
iRobot (NASDAQ:IRBT)
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