Deals
Google’s Fitbit Acquisition Gets Instant Antitrust Scrutiny
- $2.1 billion deal means two tech giants control fitness data
- Acquisition is Google’s second major purchase this year
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Google’s $2.1 billion acquisition of Fitbit Inc. means two of the largest technology companies now dominate the U.S. market for fitness tracking devices and data, and the purchase is already coming under fire from U.S. lawmakers.
Google and Fitbit expect the deal to face protracted regulatory review in light of the current political focus on competition and privacy issues in the tech industry, a person familiar with the transaction said.