Amazon Acquires iRobot - The Source

ADVERTISEMENT
  • Landing Page
  • Shop
  • Contact
  • Buy JNews
  • Login
The Source
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament
No Result
View All Result
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament
No Result
View All Result
The Source
No Result
View All Result
Home News

Amazon Acquires iRobot

The Source by The Source
June 16, 2023
in News
0
Amazon Acquires iRobot
0
SHARES
56
VIEWS
Share on Facebookshare on whatsappShare on Twitter

Britain’s Competition and Markets Authority has given Amazon the go-ahead light to acquire iRobot Corp.

The Authority said it was satisfied that iRobot has enough strong rivals in the market and that the $1.7 billion merger would not harm competition.

iRobot is best known for its Roomba robotic vacuum cleaners and has a history of making customers’ lives easier with innovative cleaning products for the home.

iRobot has continued to innovate with every product generation, solving hard problems to help give customers valuable time back in their day.

The CMA opened its investigation in April to see if the acquisition could result in “a substantial lessening of competition within any markets in the United Kingdom for goods or services.”

Shares of iRobot rose 19% on Friday after news of the acquisition by Amazon’s approval became public.

“The CMA considered whether, following the merger, the merged entity would be able to disadvantage, or foreclose, rival smart home platforms, by limiting their access to iRobot,” the authority wrote in a summary of its decision.

The authority concluded that it would not need to move into a Phase 2 investigation on potential harm to competition.

“The CMA has considered whether, if the merger had not gone ahead, Amazon could have entered the RVC market with its own product, which could have competed against iRobot, and whether, if so, any competition lost between iRobot and Amazon as a result of the merger could have been substantial,” the authority said.

The CMA ultimately then decided that “even if Amazon would have entered the U.K. RVC market absent the merger there would in any event be sufficient remaining constraints to ensure that the merger does not give rise to competition concerns.”

“The CMA has found, in light of Amazon’s broader business strategy and ongoing product development activities, that there was a realistic prospect that Amazon would have started to supply its own RVC product absent the merger,” the authority found.

The existence of strong competition in the robotic vacuum cleaner industry was a key factor in the authority’s decision.

“The CMA also found, however, that iRobot’s market position in the U.K. is modest and that it already faces several significant competitors (including Ecovacs and Eufy, both of which have a higher market share than iRobot, as well as Roborock, Samsung and Dyson),” the Authority said.

Be the first to read it our next BREAKING NEWS, POLITICS, METRO. Click here to join our WhatsApp group

Tags: AmazoniRobot
Previous Post

NETNOS Charges President Tinubu On Adequate Security, As NGO Gets New President, Olusesi Ebofin

Next Post

Subsidy Removal: FG To Seek Relief Funds From World Bank

The Source

The Source

Related Posts

Eid-El-Kabir: Hon. Oluwole Oke Felicitates Ijesa North Muslim Community
News

Eid-El-Kabir: Hon. Oluwole Oke Felicitates Ijesa North Muslim Community

by The Source
June 6, 2025
Durojaye Felicitates Muslims on Eid-el-Kabir
News

Durojaye Felicitates Muslims on Eid-el-Kabir

by The Source
June 6, 2025
Eid-el-Kabir: Osun Poly Rector, Kehinde Alabi Preaches Obedience, Sacrifice, Love, Charity
News

Eid-el-Kabir: Osun Poly Rector, Kehinde Alabi Preaches Obedience, Sacrifice, Love, Charity

by The Source
June 6, 2025
2027: Fadojoe Declares Battle for Nigeria’s Soul Has Begun
News

2027: Fadojoe Declares Battle for Nigeria’s Soul Has Begun

by The Source
June 6, 2025
Eidul Adha: Osun CoS Urges Continuos Prayers for Governor Adeleke’s Success
News

Eidul Adha: Osun CoS Urges Continuos Prayers for Governor Adeleke’s Success

by The Source
June 5, 2025
Next Post
Subsidy Removal: FG To Seek Relief Funds From World Bank

Subsidy Removal: FG To Seek Relief Funds From World Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Africa News
  • Business
  • Celebrities
  • Crime
  • Economics
  • Education
  • Entertainment
  • Health
  • HumanAngle
  • News
  • Opinions
  • Parliament
  • Politics
  • Religion
  • Sports
  • Uncategorized
  • World
  • World News

Browse by Tags

Abuja Adeleke APC Aregbesola Atiku Bandits Buhari CBN Chelsea Court Davido EFCC EndSARS FG FIRS Governor Governor Adeleke IGP INEC Kaduna Lagos Muslims Naira Nigeria Nigerian Nigerians NUJ Ondo Ooni Osinbajo Osogbo Osun Osun 2022 Osun govt Osun Poly Osun State Oyetola PDP Police SDP Senate Students Tinubu Tunde Odesola US

Categories

  • Africa News
  • Business
  • Celebrities
  • Crime
  • Economics
  • Education
  • Entertainment
  • Health
  • HumanAngle
  • News
  • Opinions
  • Parliament
  • Politics
  • Religion
  • Sports
  • Uncategorized
  • World
  • World News

Browse by Tag

Abuja Adeleke APC Aregbesola Atiku Bandits Buhari CBN Chelsea Court Davido EFCC EndSARS FG FIRS Governor Governor Adeleke IGP INEC Kaduna Lagos Muslims Naira Nigeria Nigerian Nigerians NUJ Ondo Ooni Osinbajo Osogbo Osun Osun 2022 Osun govt Osun Poly Osun State Oyetola PDP Police SDP Senate Students Tinubu Tunde Odesola US

Recent Posts

  • Eid-El-Kabir: Hon. Oluwole Oke Felicitates Ijesa North Muslim Community
  • Durojaye Felicitates Muslims on Eid-el-Kabir
  • Eid-el-Kabir: Osun Poly Rector, Kehinde Alabi Preaches Obedience, Sacrifice, Love, Charity

© 2022 The Source Nigeria.

No Result
View All Result
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament

© 2022 The Source Nigeria.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In