Amazon Drops $1.4 Billion iRobot Deal; Vacuum Maker Cuts Jobs::Amazon.com Inc. has abandoned its planned $1.4 billion acquisition of Roomba maker iRobot Corp. after clashing with European Union regulators who had threatened to block the deal.
Amazon Drops $1.4 Billion iRobot Deal; Vacuum Maker Cuts Jobs::Amazon.com Inc. has abandoned its planned $1.4 billion acquisition of Roomba maker iRobot Corp. after clashing with European Union regulators who had threatened to block the deal.
Their business was to to make robotic cleaners, not to get swallowed by a conglomerate. Like so many other businesses and entire economic sectors, it’s more important to increase short term profit through economic schemes than by delivering a product or service, and the customers and employees suffer for it.
Market Capitalism is eating itself.