Skip to main content

The EU is launching a full-blown antitrust investigation into Google's Fitbit acquisition (GOOG, GOOGL, FIT)

* The EU has officially opened an investigation into Google's acquisition of Fitbit. * Google announced it planned to buy Fitbit for $2.1 billion in November, but the deal has yet to get regulatory approval. * The EU investigation will focus on whether the acquisition would give Google an unfair advantage over competitors by hoovering up Fitbit user data. * Google's senior vice president of Devices and Services put out a blog post on Tuesday defending the acquisition. * Visit Business Insider's homepage for more stories. The EU has officially opened an in-depth investigation into Google's planned $2.1 billion acquisition of wearables company Fitbit. The European Commission, which was already conducting a preliminary investigation of the deal, announced the probe on Tuesday. The investigation will center on whether Google's acquisition of Fitbit will allow it to hoover up health data, which could in turn give Google an unfair advantage over competitors. EU competition commissioner Margrethe Vestager said in a statement: "The use of wearable devices by European consumers is expected to grow significantly in the coming years. This will go hand in hand with an exponential growth of data generated through these devices. This data provides key insights about the life and the health situation of the users of these devices. Our investigation aims to ensure that control by Google over data collected through wearable devices as a result of the transaction does not distort competition." Sources previously told Reuters a full-blown investigation was on the way, and that it will take about four months to complete. Google announced it had agreed to buy Fitbit for $2.1 billion in November. Last month the tech giant formally promised the EU it would not use health data from Fitbit to target ads at Google users. On Tuesday, Google's Senior Vice President of Devices and Services Rick Osterloh put out a blog post defending the acquisition. "This deal is about devices, not data. We've been clear from the beginning that we will not use Fitbit health and wellness data for Google ads," Osterloh wrote, referring back to Google's promise not to use health data for ad targeting. "We appreciate the opportunity to work with the European Commission on an approach that addresses consumers' expectations of their wearable devices. We're confident that by working closely with Fitbit's team of experts, and bringing together our experience in AI, software and hardware, we can build compelling devices for people around the world," he added. Join the conversation about this story » NOW WATCH: How waste is dealt with on the world's largest cruise ship
https://bit.ly/33qaIIv

Popular posts from this blog

A full breakdown of what channels you get with every Sling TV package, plus all the add-ons

  * Sling is one of the most affordable cord-cutting services on the market, offering two packages —  Orange and Blue — with 30+ channels starting at $30 a month or combined for $45 a month. * Orange offers the Disney Channel and ESPN, while Blue offers a slate of Fox channels, NBC, Bravo, and Discovery. Both Orange and Blue offer CNN, TBS, Food Network, and BBC America. * You can also add on multi-channel packages, like Sports Extras, Kids Extras, or News Extras, starting at $5 a month. Premium add-ons, like Showtime, Starz, and Epix, are also available for an additional monthly charge.  * If you're new to Sling TV, you can receive a free 14-day trial for a limited time. * Here's a complete breakdown of the channels offered on each Sling package.    If you're hoping to get the most bang for your buck once you cut the cord with your cable subscription, Sling is one of the most affordable live streaming services on the market.  The service has two packages with ...
Read more

Here's an exclusive look at the pitch deck London fintech Lanistar used to raise $19 million at a $190 million valuation

* London-based fintech startup Lanistar has raised a £15 million ($19 million) funding round from Milaya Capital.  * Founded in 2019, Lanistar is building a personal financial management platform that will launch later in 2020.  * "We're expecting a huge amount of growth upon our launch and have already seen strong interest among our sign ups," Gurhan Kiziloz, founder and CEO of Lanistar, told Business Insider. * Visit Business Insider's homepage for more stories.  The coronavirus lockdown in the UK has brought the importance of managing money into sharp relief. A recent study from Money.com shows that 71% of UK households have saved cash during lockdown, and, with uncertainty about jobs and the economy looming, money management is now front of mind for many. Lanistar, a banking platform with a focus on personal finance, is one company offering tools for consumers to better manage their money. It has just raised a £15 million ($19 million) funding round from Mil...
Read more

Why an early exec quit unicorn food delivery startup Deliveroo to launch a food business in the middle of a pandemic

* A former Deliveroo exec has launched a market food hall startup in the middle of COVID-19. * Dan Warne was managing director of the unicorn startup until 2019, but has now launched Sessions Market as a community food hall concept to rejuvenate UK towns after the pandemic. * Warne says he hopes to bring his experience from Deliveroo, particularly about customer behavior, to the analogue world of food halls. * The first venue, Shelter Hall on Brighton seafront, launches July 4. * Visit Business Insider's homepage for more stories. On Saturday, the UK's bars, restaurants, and cinemas will fling their doors open to customers for the first time since a strict lockdown commenced in late March. Given continued public health concerns around the coronavirus pandemic, it might be unwise to open a new food business right now. But Dan Warne, a former high-level executive at British unicorn startup Deliveroo, has launched Sessions Market, a series of community-orientated food hal...
Read more