The EU will allow Google to buy Fitbit if it meets a number of conditions
|Google can get approval from the EU antitrust Commission to buy the manufacturer of fitness trackers Fitbit for $ 2.1 billion, if it makes a number of concessions. They are aimed at assuring the Commission that the company has no desire to monopolize the market. This was reported by Reuters, citing its sources. |
"Google, a division of Alphabet, may get EU antitrust approval to acquire fitness tracker maker Fitbit for $ 2.1 billion," sources told the Agency.
Google can make a number of concessions to get approval. These include restrictions on the use of Fitbit data that could potentially be used by The company for advertising purposes. In addition, Google can make it easier for competing wearable device manufacturers to connect to the Android platform by offering them access to the Android software application interface (API). Manufacturers will also be able to get the opportunity to collect data about users with their consent.
However, all these concessions will not guarantee Google the right to buy Fitbit without hindrance. Before announcing its final decision, the EU antitrust Commission wants to collect feedback on the deal from competitors and consumers. Therefore, it is likely that Google will set some additional requirements. It is reported that the Commission will make a decision by December 23.
Recall that in October 2019, Google's parent company, Alphabet, announced its intention to acquire Fitbit, a company engaged in the production of fitness trackers and smart watches. In November, Google entered into a preliminary purchase agreement for $ 2.1 billion.
In February of this year, the European data protection Council drew attention to the upcoming takeover. He stated that he sees a threat to the confidentiality of personal data as a result of such an acquisition and called on the parties to minimize all possible risks associated with this. In August, the Antimonopoly Commission considered that Google could seriously strengthen its position in the advertising market as a result of this transaction.
|Category: Business | Views: 16 ||
|Total comments: 0|