More Regulatory Watching For Amazon, $1.7B Proposed Purchase Of iRobot Attracts Atention

More Regulatory Watching For Amazon, $1.7B Proposed Purchase Of iRobot Attracts Atention
  • Federal antitrust enforcers investigated Amazon.com Inc's AMZN proposal to buy Roomba maker iRobot Corp IRBT.
  • Roomba dominates the smart vacuum market with a 75% market share by revenue in the U.S.
  • The FTC formally requested documents from both companies explaining the proposed $1.7 billion deal's purpose and rationale, the Wall Street Journal reports.
  • A group of about 20 pro-privacy and worker organizations urged U.S. antitrust enforcers to stop the deal, citing concerns about privacy and Amazon's already powerful position in the smart home devices market, Reuters reported.
  • Also Read: After Google, Meta Also Suffers EU Antitrust Setback
  • The FTC also examined Amazon's $3.9 billion deal to buy 1Life Healthcare Inc.
  • The FTC took a skeptical view of the Big Tech acquisitions citing anticompetitive concerns. 
  • The FTC separately investigated Amazon's Prime membership program.
  • Price Action: AMZN shares traded lower by 0.11% at $122.06 in the premarket on the last check Wednesday.
  • Photo by Jo Zimmy via Flickr

Posted In: BriefsGovernmentNewsRegulationsSmall CapTechMedia