iRobot Founder Says FTC Treated Blocked Deals 'Like Trophies' as Bankruptcy Follows Failed Amazon Acquisition

Colin Angle, the founder of iRobot who built the company from his living room over 35 years and sold more than 50 million Roomba vacuums, watched his creation file for Chapter 11 bankruptcy earlier this month after what he describes as an "avoidable" regulatory ordeal that killed Amazon's $1.7 billion acquisition bid. In an interview with TechCrunch, Angle recounted the 18-month investigation by the FTC and European regulators that preceded Amazon's January 2024 decision to abandon the deal. The process consumed over 100,000 documents and a significant portion of iRobot's discretionary earnings. Angle said the deal should have taken "three, four weeks of investigation" given iRobot's declining market position -- 12% and falling in Europe, where the leading competitor was only three years old. During his deposition, Angle said he walked the halls of the FTC and noticed examiners had "printouts of deals blocked, like trophies" on their office doors. He entered the process "looking for a friend" and instead encountered the question: "Why should we ever let them do this?" Further reading: WSJ Editorial Board Says Lina Khan Killed iRobot.

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