This is an embarrassing deal for Amazon. There's no innovation and barely any good people left at iRobot.
The company's revenue is down more than 50% since the deal was announced. If the UK or US regulatory bodies sue to block the deal, Amazon can save the $1.7B and its reputation and then just recruit the handful of good engineers.
@37wxv+1mrTxFTM…..Amazon didnt give them the loan. Carlyle did at a ridiculous interest rate and tied it to the break up fee so they are covered.
so why would they have given Irobot another loan? Now they cannot back out of the deal until August 2024.
With David Limp gone, the odds of this deal closing just got lower. Panay is too smart to buy iRobot. Just wait a few more months and they’ll be out of cash.
I doubt the deal with close. Amazon is bleeding cash and there’s no value in buying a robotic vacuum to Amazon. Without this lifeline, iRobot will be following in the footsteps of Neato which just shut down