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
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 ...