A vacuuming Roomba mannequin robotic is displayed at iRobot headquarters in Bedford, Massachusetts
Scott Eells | Bloomberg | Getty Pictures
Amazon’s deliberate $1.7 billion acquisition of iRobot, the maker of Roomba vacuums, has been greenlit by Britain’s competitors watchdog.
The Competitors and Markets Authority stated it decided the deal wouldn’t end in “a considerable lessening of competitors” within the U.Ok. The CMA opened its probe into the proposed buy in April.
iRobot’s inventory surged 21% on information of the CMA’s approval. Amazon shares closed down 1%.
An Amazon spokesperson instructed CNBC in a press release: “We’re happy with the UK Competitors and Markets Authority’s determination and are dedicated to supporting regulatory our bodies of their work. We stay up for related selections from different regulators quickly.”
Amazon introduced final 12 months it could purchase iRobot for $1.7 billion, as a part of a transfer to deepen its presence within the sensible house. However the deal remains to be underneath assessment by the U.S. Federal Commerce Fee, in addition to European Union antitrust regulators, who opened a probe earlier this month.
The CMA stated it present in its assessment that iRobot’s market place within the U.Ok. is modest and that it faces important competitors from a number of rivals. It additionally decided the deal wouldn’t restrict rival sensible house platforms’ capability to compete and that there was no clear incentive for Amazon to favor iRobot’s merchandise on its on-line retailer.
WATCH: Amazon’s sensible house dominance and the way it may develop with iRobot acquisition