WA-AMAZON
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240128042393/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
MBK Partners: Welcoming the Court’s Decision to Prohibit Cumulative Voting for Director Appointments21.1.2025 12:31:00 CET | Press release
Korea Zinc’s Extraordinary General Meeting to Be Conducted Fairly Using a Simple Voting Method MBK Partners and Young Poong, the largest shareholders of Korea Zinc, issue the following statement regarding today’s decision by the Seoul Central District Court’s Civil Division 50 to grant an injunction prohibiting the use of cumulative voting for director appointments at Korea Zinc: MBK Partners and Young Poong welcome the court’s decision to prohibit cumulative voting and view this outcome as a natural and lawful conclusion. The cumulative voting request filed by Yumi Development, for the sole purpose of securing Chairman Yoon Bum Choi’s position, failed to meet the procedural requirements outlined in Article 382-2 of the Korean Commercial Act. The court ruled that while Yumi Development submitted the cumulative voting request on December 10, Korea Zinc’s Articles of Incorporation at that time explicitly stated, “the cumulative voting system shall not apply.” As such, the request violate
Compass Pathways Appoints Steve Levine, M.D., as Chief Patient Officer21.1.2025 12:30:00 CET | Press release
Newly created role of Chief Patient Officer reinforces Compass’ vision of working to achieve broad and equitable access to COMP360, if approved Compass Pathways plc (Nasdaq: CMPS) (“Compass”), a biotechnology company dedicated to accelerating access to evidence-based innovation in mental health, today announced the appointment of Steve Levine, M.D., as Chief Patient Officer, effective immediately. In this newly developed executive team role, Dr. Levine will be responsible for ensuring that patient-centric strategies are embedded across the organization and that treatments and initiatives developed by the company are focused on addressing unmet needs in current clinical care and are designed to improve patient outcomes. “Steve has spent the past four years working to deeply understand barriers to care for patients living with serious mental health conditions and he is committed to helping find solutions to address those barriers,” said Kabir Nath, CEO of Compass Pathways. “Steve shares
Epsilon Carbon Launches Terrablack, a High-Performing and Environment Friendly Recovered Carbon Black for the Tire and Non-Tire Industries21.1.2025 09:44:00 CET | Press release
Epsilon Carbon, a global leader in the carbon black industry, announces the launch of Terrablack, a product line that aims to shape the carbon black sector with sustainability at its core. The unveiling took place in the presence of Mr. Sajjan Jindal, Chairman and MD – JSW Group, Mr. Vikram Handa, Managing Director - Epsilon Carbon, Mr. Gaurav Mathur, CEO and Mr. Desh Deepak Misra, President - Carbon Black business at the Bharat Mobility Show’s India International Tire Exhibition, New Delhi. Terrablack is designed to address the growing demand for sustainable carbon black. Using recovered carbon black (rCB) and Tire-derived oil (TDO), this product line is formulated after 24 months of in-depth testing and collaboration to shape the future of carbon black production. It offers high-performance, eco-friendly solutions that meet the needs of both Tire and non-Tire industries. The Terrablack portfolio includes Terrablack 3310, engineered for heavy-duty applications like Tire treads, offeri
Hydrogen equipment pioneer H2SITE successfully raises EUR36 million from a consortium of investors co-led by Hy24 and SC Net Zero Ventures21.1.2025 08:42:00 CET | Press release
The Series B Funding round is co-led by Hy24 and SC Net Zero Ventures who are joined by Breakthrough Energy Ventures, Enagas Emprende, Equinor Ventures, Exergon, Ezten, and MassMutal Ventures. The investment round will support the next phases of H2SITE’s innovative hydrogen technology deployment, focusing on scaling up to multi tons per day reactors in operation by 2026. H2SITE’s solution addresses the challenges of transporting hydrogen, making the technology more accessible and creating significant cost savings. H2SITE, a deep-tech pioneer of hydrogen separation solutions, announces today the successful closing of its Series B funding round at EUR36 million from a consortium of investors, combining strategic and financial investors focused on the next growth phase. H2SITE has received support from new co-lead investors Hy24, the world’s leading low-carbon hydrogen pure-play investment manager, through its Clean Hydrogen Equipment Fund, and SC Net Zero Ventures, the climate tech ventu
Bureau Veritas to Acquire a Leading Buildings & Infrastructure Business in Italy in Line With LEAP I 2820.1.2025 19:03:00 CET | Press release
Bureau Veritas, a global leader in Testing, Inspection, and Certification services, announced that it has signed an agreement to acquire Contec AQS and its two owned subsidiaries Exenet and PMPI. The planned acquisition is aligned with Bureau Veritas’ LEAP | 28 strategy to expand its leadership in the Buildings and Infrastructure market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250120728164/en/ Hinda Gharbi, CEO Bureau Veritas (Photo: Business Wire) Bureau Veritas contributes to safer, sustainable, and resilient buildings and infrastructure, delivering comprehensive solutions covering the full life cycle of assets. This acquisition will expand Bureau Veritas’ Buildings and Infrastructure footprint in Italy. Contec AQS, Exenet and PMPI are established Italian brands delivering comprehensive services and technical expertise in the Buildings and Infrastructure sector. They cover construction, infrastructure and Health, Sa
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom