Amazon has reportedly agreed to pay over $1 billion to acquire self-driving car startup Zoox Inc.
According to a report in The Information on Thursday, people familiar with the matter said the deal could be officially announced as early as Friday, a move that would expand Amazon’s reach in autonomous-vehicle technology.
The report, however, did not mention the precise purchase price and added the amount will be disclosed during the announcement.
This latest development comes around a month after The Wall Street Journal said in a report that Zoox and Amazon were in advanced talks for
No official statement was released from any of the two sides at the time of reporting.
In its report on Thursday, The Information, which cited people with knowledge of the deal, said it was not clear whether Amazon plans to use the Zoox deal to build a fleet of self-driving delivery vehicles or not.
Amazon has sharply increased its investments in the self-driving car sector. Last year, the e-commerce giant participated in a $530 million funding early last year in a self-driving car startup, similar to Zoox, called Aurora Innovation Inc.