[ad_1]
Amazon’s $1.4 billion deal for Roomba-maker iRobot looks set to be blocked by European Union antitrust authorities. It’s only a small setback for the e-commerce giant but it’s a reminder that regulators are still skeptical over acquisitions made by big technology companies.
Continue reading this article with a Barron’s subscription.
View Options
[ad_1]
iRobot Corp. is a robot company, which engages in designing and building robots. Its products include robot vacuums and maps, and pool cleaners. It operates through Domestic and International segments. The company was founded by Rodney Allen Brooks, Colin M. Angle and Helen Greiner in August 1990 and is headquartered in Bedford, MA.
[ad_2]
[ad_1]
By Joe Hoppe
The U.K. Competition and Markets Authority on Friday said it has cleared Amazon.com’s proposed $1.7 billion acquisition of iRobot Corp.
The regulator, which had launched an initial formal investigation in April into the takeover of the Roomba maker, concluded that the deal wouldn’t lead to competition concerns in the U.K.
The deal remains under regulatory review in other jurisdictions. In September, iRobot said the U.S. Federal Trade Commission formally requested documents from both companies explaining the deal’s purpose and rationale. A securities filing by iRobot said both companies would cooperate with the FTC’s investigation.
After an investigation, which typically takes up to a year, the FTC can sue to block a merger, seek concessions such as divestitures or decline to take action, allowing a deal to close.
“We’re working cooperatively with the relevant regulators in their review of the merger,” an Amazon spokesperson said at the time.
Write to Joe Hoppe at joseph.hoppe@wsj.com
[ad_2]
[ad_1]
Silicon Valley could use a reboot. The biggest players aren’t growing, and more than a few are seeing sharp revenue declines. Regulators seem opposed to every proposed merger, while legislators push for new rules to crack down on the internet giants. The Justice Department just can’t stop filing antitrust suits against Google. The initial public offering market is closed. Venture-capital investments are plunging, along with valuations of prepublic companies. Maybe they should try turning the whole thing on and off.
The only strategy that seems to be working is to lay people off. Tech CEOs suddenly are channeling Marie Kondo, tidying up and keeping only the people and projects that “spark joy,” or at least support decent operating margins. Layoffs.fyi reports that tech companies have laid off more than 122,000 people already this year.
[ad_2]