The FTC has launched an investigation into tech giant Amazon’s proposed $1.7 billion purchase of iRobot, the company behind Roomba.
Roomba maker iRobot Corp. according to recent security filings. The Federal Trade Commission formally requested documents from both companies this week that explains the purpose and rationale of the proposed $1.7 billion deal.The FTC is also investigating Amazon’s $3.9 billion
By 2021, Amazon Ring had crushed competing smart doorbell makers—selling as many units as its four closest competitors combined. Amazon’s success relied on selling low-price Ring doorbells through its almost ubiquitous e-commerce platform, aided by integration with the company’s subscription program, Amazon Prime.
FTC investigations usually take approximately a year to complete, but upon closure of the investigation, the commission can sue to block a merger, seek concessions, or decline to take action. The FTC has been focusing on acquisitions by technology giants recently, saying that the deals often hurt competition and give large tech firms too much control over valuable consumer data.
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FTC looking into Amazon's $1.7B deal for iRobotThe U.S. Federal Trade Commission (FTC) has asked Amazon and iRobot for more information on the e-commerce giant's $1.7-billion buyout of the popular Roomba vacuum maker.
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FTC Reviewing Amazon's $1.7 Billion Deal to Buy iRobotThe Federal Trade Commission is investigating Amazon’s $1.7 billion acquisition of iRobot, the latest deal that’s under scrutiny by the regulators amid growing concerns about the company’s market power. In a regulatory filing Tuesday, iRobot said both it and Amazon received a request for additional information in connection with an FTC review of the merger. Earlier this month, securities regulators…
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Former staff slam Khan-led FTC as breaching norms and undermining credibilityA group of former staff members at the Federal Trade Commission has slammed the agency as overreaching and breaching norms.
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