CURRENT AFFAIRS

Detailed explanation-1: -On June 26, 2020, Amazon and Zoox signed a definitive merger agreement, under which Amazon acquired Zoox as a wholly-owned subsidiary for over $1.2 billion.

Detailed explanation-2: -E-commerce giant Amazon announced on Friday that the company is acquiring Zoox, an American autonomous vehicle company headquartered in California.

Detailed explanation-3: -Amazon said the deal will help bring Zoox’s “vision of autonomous ride-hailing to reality.” Zoox will continue to operate as a standalone business within Amazon, with CEO Aicha Evans and Jesse Levinson, the company’s co-founder and CTO, continuing to lead the team, Amazon said.

Detailed explanation-4: -With the Zoox deal, Amazon has up the automation ante in its distribution network by bringing an immediate boost in sophistication. With the acquisition of Kiva, during the last decade, Amazon focused on warehouse automation.

Detailed explanation-5: -Waymo LLC, formerly known as the Google Self-Driving Car Project, is an American autonomous driving technology company headquartered in Mountain View, California. It is a subsidiary of Alphabet Inc., the parent company of Google. U.S.