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Amazon.com Inc has agreed to pay over $1 billion to buy self-driving startup Zoox Inc, the Information reported on Thursday, citing sources, in a move that would expand the e-commerce giant’s reach in autonomous-vehicle technology.
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The report did not mention the exact purchase price and added Amazon is unlikely to disclose it when the deal is announced, likely to be on Friday.
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A majority of Zoox investors are getting their money back, with some making a positive return, the report added. Lux Capital, DFJ and Atlassian co-founder Michael Cannon-Brooks are some of the investors.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 2,754.58 | +20.18 | +0.74% |
Amazon and Zoox did not immediately respond to a Reuters request for comment.
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The Wall Street Journal reported last month that the companies were in advanced talks and the deal could value Zoox at less than the $3.2 billion it achieved in a funding round in 2018.
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Amazon has stepped 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.
(Reporting by Vishal Vivek in Bengaluru; Editing by Krishna Chandra Eluri)