Sunday, July 12, 2020
Amazon Acqui-Hires Zoox
Amazon offered $1.3 billion to buy Zoox last month. So what are you buying when you buy a tech company? Since there are often limited fixed assets, generally, you are seeking to get the employees. In this case, two Zoox senior engineers had already accepted offers from other companies. So Amazon upped the offer by $100 million to compensate the employees who stay after the acquisition. The new condition of the acquisition is that all of the employees on a "key list" must stay and at least 19 employees on a second list must stay. Finally, three schedules of other employees was created. 90 percent of the employees on the first two schedules must stay and 88 percent on the lowest schedule must stay, otherwise, Amazon can walk away from the deal.