iRobot Corporation (IRBT)

[eastunder]

Amazon to win unconditional EU nod for iRobot deal: sources

(The original article)

Thu, November 23, 2023 at 2:45 AM MST·1 min read

https://finance.yahoo.com/news/exclusive-eu-approve-amazons-irobot-094503258.html

BRUSSELS (Reuters) — Amazon (AMZN) is set to win unconditional EU antitrust approval for its $1.4 billion acquisition of robot vacuum maker iRobot, three people familiar with the matter said on Thursday.

Antitrust enforcers around the world have stepped up scrutiny of Big Tech acquiring smaller rivals, concerned about the accumulation of troves of data by a few companies and big players leveraging their dominance into new markets.

The European Commission, which acts as the EU's competition watchdog, warned Amazon in July that the deal could reduce competition in robot vacuum cleaners and reinforce the U.S. company's dominant position as an online marketplace provider.

The Commission, which is due to decide on the deal by Feb. 14, declined to comment. Amazon did not respond immediately to a request for comment.

The UK antitrust agency cleared the deal unconditionally after a preliminary review.

(Reporting by Foo Yun CheeEditing by Mark Potter and David Goodman)