Tech

Amazon terminates $1.4bn deal for Roomba maker after EU challenge

Regulators in Europe and the US are increasingly sceptical of Big Tech’s dealmaking

The break-up spares Amazon the task of stemming the losses incurred by Bedford, Massachusetts-based iRobot, which has seen its fortunes sour in recent years

Amazon has abandoned its planned $1.4 billion acquisition of Roomba maker iRobot after clashing with European Union regulators who had threatened to block the deal.

The fallout came quickly. IRobot, which has been struggling recently, said chief executive Colin Angle has stepped down as the company embarks on a restructuring plan that will result in about 350 job cuts, or 31 per cent of the workforce. The vacuum maker’s shares tumbled 19 per cent in ...