Exclusive-Google to win EU antitrust okay for maths app deal, sources say
Reuters
Published Mar 22, 2023 01:20PM ET
Updated Mar 22, 2023 02:26PM ET
By Foo Yun Chee
BRUSSELS (Reuters) -Alphabet's Google (NASDAQ:GOOGL) is set to gain unconditional EU antitrust clearance for its acquisition of Croatian maths app Photomath, people familiar with the matter said on Wednesday.
Merger deals involving U.S. tech giants and start-ups have in recent months attracted intense regulatory scrutiny on both sides of the Atlantic amid worries that some deals may be killer acquisitions where the goal is to shut down nascent rivals.
Google entered an agreement to acquire Photomath in May last year. Investors in the Croatian company include Menlo Ventures, LearnCapital, Goodwater Capital, GSV Ventures and Cherubic.
The European Commission, which is scheduled to decide on the deal by March 28, and Google declined to comment.
Photomath was started by an engineer and father looking to help his children with their math homework. The app has been downloaded more than 300 million times worldwide and is available in more than 30 languages.
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Written By: Reuters
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