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What you need to know The Australian Competition and Consumer Commission has threatened to slap Google with a $400 million fine if it completes the Fitbit acquisition before the regulator completes its investigation. The regulator has rejected Google's offer to enter into a court-enforceable undertaking that would limit the way it would use data from Fitbit devices. While the EU has approved Google's Fitbit acquisition, the U.S. Justice Department is expected to rule on the deal sometime early next year. After a thorough antitrust investigation, the EU finally approved Google's Fitbit acquis...

Google Fitbit acquisition could be blocked in Australia Ewdison Then - Dec 22, 2020, 9:13pm CST It has been more than a year since Google announced its intention to acquire Fitbit and it has not been a smooth ride for either company. It recently overcame one major hurdle when the European Commission finally gave its approval after much negotiations and concessions on Google’s part. The deal, however, still has to be approved in the US but even if gets the FTC’s and DOJ’s green light, it might still face some substantial fines if it goes through the acquisition without...

BBC News Published image copyrightReuters Google's takeover of Fitbit has been approved by the European Commission, following a four-month investigation. The search giant bought the fitness tracking company for $2.1bn (£1.5bn) in November 2019 - but the EU warned the acquisition could harm competition. Google has made a series of pledges to address investigators' concerns. Commission executive vice-president Margarethe Vestager said the deal would keep the wearables market "open and competitive". The European Commission had expressed concerns Google would: use the tranche of Fitbit data for ...

Dec 17th, 2020 Nearly 14 months after Google announced its bid to purchase FitBit, the EU has finally signed off on the acquisition. The regulatory approval from the EU comes with a handful of conditions that will put restrictions on what Google will be able to do with user data from FitBit and a requirement to keep Android open for third-party developers to continue to build smartwatches and wearables that are compatible with the platform. As a condition of the agreement, health data from FitBit will be siloed, preventing it from being used with Google’s ad business. European residents wil...

Google acquired Fitbit back in November last year in a deal valued at $2.1 billion. Following the acquisition, the deal fell under the regulatory scanner over antitrust concerns and data privacy, after which the European Commission launched an investigation to assess the risks of data misuse for targeted ads and how it will affect the competition. Today, the European Commission has given its formal approval to the deal, while putting certain restrictions on Google over how user data should be handled.  Google will not use health data for targeted ads “We can approve the proposed acquisiti...