Increased Regulatory Scrutiny on Tech Giant Mergers
In recent months, mergers between U.S. tech giants and start-ups have faced intense regulatory scrutiny in Europe and the United States. There are concerns that some of these deals could be killer acquisitions to eliminate potential competitors.
Google's Agreement to Acquire Photomath
Google agreed to acquire Photomath in May of the previous year. Investors in the Croatian company include prominent firms such as Menlo Ventures, LearnCapital, Goodwater Capital, GSV Ventures, and Cherubic.
European Commission's Decision on the Deal
The European Commission is expected to decide on the acquisition by March 28. Both the commission and Google have declined to comment on the matter.
Photomath's Origins and Popularity
Photomath was founded by an engineer and father who aimed to assist his children with their math homework. The app has since gained immense popularity, with over 300 million downloads worldwide and available in more than 30 languages.