27 May 2020

Amazon plans to acquire self-driving startup, Zoox

Reuters
Amazon plans to acquire self-driving startup, Zoox

Amazon.com Inc (AMZN.O) is in advanced talks to buy self-driving startup Zoox Inc, in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology, the Wall Street Journal reported on.wsj.com/36wXJUV on Tuesday.

The deal will value Zoox at less than the $3.2 billion it achieved in a funding round in 2018, the Journal reported, citing people familiar with the matter.

An agreement may be weeks away and the discussions could still fall apart, the report added.

Amazon has stepped reut.rs/3d43NXm up its investment in the car sector, participating in a $530 million funding round early last year in self-driving car startup Aurora Innovation Inc.

Both Amazon and Zoox declined a Reuters request for comment.

 

Source: Reuters

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