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7/30, 11:38 AM (Source: TeleTrader)
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EU to launch in-depth probe into Google's Fitbit acquisition - report

The European Commission is set to launch a full-scale investigation into Google's proposed $2.1 billion acquisition of smartwatch company Fitbit, media reported citing sources close to the matter.

According to MLex, the EU antitrust regulators still have concerns about the deal "despite the company’s offer to modify its terms" and will, therefore, start an "extended probe" into the matter. The phase two investigation is expected to begin on August 4 and conclude by December 9.

Earlier, the European Data Protection Board (EDPB) warned Google's acquisition could create privacy risks. The US Department of Justice is also looking into the deal over privacy and competition concerns.

Breaking the News / NP