Amazon.com Inc has agreed to pay over US$1bil to buy self-driving startup Zoox Inc, The Information reported on June 25, citing sources, in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology.

The report did not mention the exact purchase price and added Amazon is unlikely to disclose it when the deal is announced, likely to be on June 26.

A majority of Zoox investors are getting their money back, with some making a positive return, the report added. Lux Capital, DFJ and Atlassian co-founder Michael Cannon-Brooks are some of the investors.

Amazon and Zoox did not immediately respond to a Reuters request for comment.

The Wall Street Journal reported last month that the companies were in advanced talks and the deal could value Zoox at less than the US$3.2bil it achieved in a funding round in 2018.

Amazon has stepped up its investment in the car sector, participating in a US$530mil funding round early last year in self-driving car startup Aurora Innovation Inc.

 - Reuters