The $1.7 billion acquisition will give Amazon an edge in the smart home industry, the nonprofit Foxglove said.
in August, is one of several acquisitions that the company has made over the last few years as it has sprawled into new industries., accuses Amazon of unfairly using its dominance to stomp out rivals in the world of household consumer products. Over the past several years, Amazon has become a formidable player in smart home technology, with its Alexa voice platform, Ring doorbells and Echo speakers and smart displays.
In a statement, Amazon spokesperson Laura Gunning Wate said the company is “working cooperatively with the relevant regulators in their review of the merger.”Amazon has already bought its way into several new categories — or strengthened its position in industries it already occupies — with its buyouts: There’s grocery stores with its Whole Foods purchase, health tech with OneMedical, and movie making with MGM.
The Amazon spokesperson said the company doesn’t have a history of shuttering businesses it has acquired, pointing to Whole Foods and Ring as examples. For Amazon, much of the antitrust focus has been on the data the company collects on the sellers on its platform. In 2020, Amazon founder and former CEO Jeff Bezos testified before Congress over questions about Amazon’s private-label business, and the unfair advantage the company might have as it hawks its own products on the platform it owns.
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