Google was in regular talks with Fitbit, a fitness tracking gadget making company for an acquisition deal. The final deal settled by both the companies stands at $2.1 billion.
This deal would help the internet search giant to become stronger than ever globally. However, the deal came to the notice of the US Justice Department who started probing into the matter. This was followed by Antitrust cases against the giant to undermine the accumulation of power and information by a single company.
However, recent reports suggest Google has closed the deal with Fitbit amid the ongoing Antitrust investigation into the matter. Both the companies announced their agreement on Thursday, January 14.
The Fitbit Deal Happened After DOJ’s Review Period; Google Claims Not In Fault
The US Department of Justice is still speculative whether to enforce action on the giant for the Fitbit deal. Google had already been under scrutiny since October 2020 after having registered cases for violating the Antitrust laws in its advertising and internet search business. The US Justice Department said in a statement that it is yet to reach “a final decision” regarding the giant and its parent company Alphabet with regard to these cases.
Australian probes into the matter are also ongoing while Google decides to close the Fitbit deal. Rod Sims, the Chairman of the Australian Competition and Consumer Commission said in a statement recently that the final decision regarding Google and its Antitrust violations will be taken on the basis of the evidence and reports of the ongoing investigation. These will factor in the decision of whether to go ahead with legal actions against the company or not.
Google mentioned that the Fitbit deal was closed after the agreed upon review period of 14 months and the waiting period thereafter. The company is open to further compliance in the future to aid the investigation in any possible way.
