"EU to Grant Final Approval for Amazon's Acquisition of iRobot"

The European Union (EU) has decided to give final approval for Amazon's acquisition of the robotic vacuum cleaner company iRobot.

On the 23rd (local time), major foreign media outlets reported, citing sources, that the EU Competition Authority is expected to approve Amazon's $1.4 billion (approximately 1.8 trillion KRW) acquisition of iRobot without any conditions.

This comes 1 year and 3 months after Amazon announced in August last year its plan to acquire iRobot to enhance its competitiveness in the smart home sector.

Following the UK Competition and Markets Authority (CMA) granting final approval for the acquisition in July, if the EU also approves it, Amazon will have cleared another major hurdle in acquiring iRobot. Earlier this year in July, the EU launched an in-depth investigation into Amazon's acquisition of iRobot, citing concerns that it could limit competition in the robotic vacuum cleaner market, leading to initial expectations that the acquisition process might face difficulties. However, the EU decided to give final approval before the in-depth investigation deadline of February 14 next year.

However, the U.S. Federal Trade Commission (FTC) is still conducting its review of Amazon's acquisition of iRobot.

Meanwhile, iRobot, founded in 1990, is well known for its robotic vacuum cleaner "Roomba." In addition to Roomba, it has gained great popularity by introducing robotic mops and pool cleaners.