The news: The U.K. competition regulator has approved Amazon's $1.7B acquisition of iRobot, the maker of Roomba vacuum cleaners, clearing one regulatory hurdle as others remain in the U.S. and Europe. Details: The U.K.'s Competition and Markets Authority concluded that the deal would not harm competition and chose not to escalate its investigation. In its decision, the watchdog determined that robot vacuum cleaners and the data they gather aren't a crucial gateway in the emerging smart home devices market. It also found no evidence of Amazon favoring iRobot's products over others on its online platform. By the numbers: The approval boosted iRobot's shares by 18% while Amazon's stock declined slightly. Pending approval from other jurisdictions, the acquisition would become Amazon's fourth largest, trailing Whole Foods, Metro-Goldwyn-Mayer (MGM), and One Medical. What's next: EU antitrust regulators are expected to decide on the iRobot deal by July 6, while the U.S. Federal Trade Commission (FTC) is investigating the iRobot acquisition and may file an antitrust lawsuit against Amazon.
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