Amazon agrees to buy self-driving startup Zoox for over $1 billion: The Information
The report https://bit.ly/3dwgauV 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.
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.
Amazon and Zoox did not immediately respond to a Reuters request for comment.
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.
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)
Micron Technology Inc on Monday forecast current-quarter revenue above Wall Street estimates as home-bound employees and students spur demand for its chips that power notebooks and data centers, sending its shares up 6% in after-market trading.
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