Amazon drops $1.4bn iRobot deal after EU veto threat

IRobot CEO Colin Angle has stepped down as the company embarks on a restructuring plan that will result in about 350 job cuts

European regulators said Monday, Nov. 27, 2023, that Amazon’s proposed acquisition of robot vacuum maker iRobot may harm competition. (AP Photo/Michael Sohn, File)

Amazon.com has abandoned its planned $1.4bn (€1.29bn) acquisition of Roomba maker iRobot after clashing with European Union regulators who had threatened to block the deal.

The decision is a sign of the intense pressure Amazon is facing to prove its actions don’t harm competition as its influence grows in retail, cloud-computing and entertainment. The breakup also spares Amazon the task of stemming the losses incurred by Bedford, Massachusetts-based iRobot, which has seen its fortunes sour in recent years.