Why CEO quit when deal not reached? https://arstechnica.com/tech-policy/2024/01/amazon-cant-hoover-up-roomba-after-eu-nixes-1-4b-irobot-acquisition/ #layoff #amazon #irobot
Likely bc iRobot was already having financial issues and the acquisition was its golden parachute, these heartless CEOs don’t want to stick around to fix the company issues and take care of the employees, so they choose to bounce before the shit hits the fan
Market cap is $427M now, closing at $1.7 odd Billion would have been bad business after all.
You serious? Most companies hardly get to breakeven what they paid in general before 5-10 years. Would consider that a good deal by that measure, assuming the IP of what iRobot has can be useful to Amazon in many many aspects easily.
If iRobot had IP worth 1.7B it wouldn’t be worth 400M market cap. Other buyers would scoop it up. But it doesn’t, and Amazon wants out. When iRobot goes down, Amazon can pick up the pieces much cheaper, won’t take long.
The only reason for Amazon to buy them would be for patents. There’s no mapping algorithm they have that Amazon can’t easily replicate. Amazon already has a huge robotics division and bought a company called Kiva systems a long time ago.
He/she been CEO for iRobot for 30 years. It’s time to change