The Competition and Markets Authority (CMA), the UK’s market regulator, has approved the proposed acquisition of robotic firm iRobot by e-commerce major Amazon.

The two companies signed a definitive merger agreement in August last year, which will see Amazon acquire iRobot in a deal valued at approximately $1.7bn.

However, CMA has investigated the deal since April this year over concerns that it would reduce competition in the UK.

The regulator said that the acquisition will not have a major impact, as the position of iRobot in the UK market was "modest" and that iRobot already faces several significant rivals.

In addition, the CMA concluded that the robot vacuum cleaners market in the UK is not expected to ‘significantly’ expand in the future.

CMA mergers senior director Colin Raftery said: “More people are choosing to use ‘smart’ tech in their homes – whether that’s listening to the radio through a smart speaker, answering the door using a video doorbell, or keeping floors clean with robot vacuum cleaners.

“That’s why it’s important to ensure tech firms that already benefit from powerful positions aren’t able to use those positions to undermine competitors at the expense of UK consumers and businesses.

“Here, after a thorough investigation, we’re satisfied that the deal would have no impact on competition in the UK.”

Besides the CMA, the deal is being investigated by the US Federal Trade Commission and the European Union.

iRobot specialises in designing and building products that feature technologies and advanced cleaning, mapping and navigation concepts.

The company launched its first Roomba robot vacuum in 2002.

In the first quarter of fiscal 2023, the company reported revenue of $160.3m, a decline from $292m in the same period last year.