The European Commission announced at the beginning of last month that it will launch an in-depth antitrust investigation into Google’s acquisition of Fitbit, mainly worried that this transaction will further strengthen Google’s dominant position in the online advertising market.
According to the European Commission, Google already has a huge amount of data to provide personalized advertising services. The acquisition of Fitbit will further increase Google’s data volume.
At that time, the European Commission initially decided that it would make a final decision before December 9. But today it said: “It has reached an agreement with Google Fitbit to extend the deadline to December 23. “
In November last year, wearable device manufacturer Fitbit announced that it had signed a definitive agreement with Google. Google will acquire Fitbit for $7.35 per share in cash, valuing Fitbit at $2.1 billion.
Analysts said the deal will help Google compete with Apple, Samsung, Huawei and Xiaomi in the highly competitive fitness tracker and smart watch market.
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