All you need to know about Amazon and iRobot cut ties

Both companies have reached a mutual agreement to terminate an acquisition agreement, and iRobot has laid off 31% of its workforce and announced its CEO's resignation.

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Amazon's $1.7 billion acquisition of iRobot faces regulatory approval in the European Union, causing a loss for consumers, competition, and innovation.

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Amazon has halted its acquisition of iRobot, stating disappointment in the outcome. The company will pay iRobot a $94 million termination fee. iRobot expects to record restructuring charges of $12-13% in Q1 2024, primarily for severance and related costs.

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iRobot founder to step down

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iRobot has announced the resignation of founder Angle as chairman and CEO, with Glen Weinstein as interim CEO, and Tonya Drake as executive vice president and general counsel.

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Innovations that make life better

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iRobot's CEO expressed disappointment with Amazon's termination but expressed optimism for the company's future, focusing on creating intelligent home innovations and thoughtful robots.

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