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May 28, 2020

Amazon mulling bid for autonomous tech startup Zoox

US e-commerce giant Amazon.com Inc is in talks to acquire autonomous driving technology startup ZooxInc, according to unconfirmed reports citing a person close to the company.

By bcusack

US e-commerce giant Amazon.com Inc is in talks to acquire autonomous driving technology startup ZooxInc, according to unconfirmed reports citing a person close to the company.

Amazon is understood to be just one of several companies to be considering making an offer for Zoox. The startup has engaged the services of Qatalyst Partners to advise it and help evaluate any offers.

 "Zoox has been receiving interest in a strategic transaction from multiple parties and has been working with Qatalyst Partners to evaluate such interest", a company spokesperson said without elaborating on any specific company interest.

Acquiring Zoox would allow Amazon to strengthen its capabilities in the area of automated e-commerce delivery. Zoox is regarded as a leading global autonomous technology company and is understood to have raised close to US$1bn in investor funding so far. In 2018 it was valued at as much as US$3.2bn

Zoox aims to have a fully driverless car operational by the end of this year.

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