Amazon's deal for a cleaning robot could get blocked

The European Commission, Europe's antitrust enforcer, is reportedly planning to block Amazon's acquisition of iRobot, a major brand in the smart robotics industry.

The deal, valued at $1.4 billion at $61 per share according to CNBC, aimed to strengthen Amazon's portfolio of smart home products market. The concerns about antitrust issues have led European regulators to consider derailing the acquisition.

Amazon had set its sights on iRobot, a company known for designing and manufacturing smart robots including cleaning and educational robots.

The proposed acquisition was a move to expand Amazon’s portfolio of smart home products which already includes Amazon Alexa and the Ring doorbell.

The European Commission started a preliminary investigation into the proposed acquisition, expressing concerns about the potential impact on competition within the smart home products market. The issue is that if Amazon acquires iRobot, it could lead to the delisting or less visibility of competitors.