What you need to know
- The FTC is once again pointing the finger at Apple, Google, and other tech companies.
- This time it wants to know details about the acquisitions they have made.
- It wants data going back to 2010.
The Federal Trade Commission has announced that it wants to take a peek at the acquisitions made by technology companies including Apple and Google. So far the FTC has asked the two tech and phone giants to provide information alongside Amazon, Google, Microsoft, Alphabet, and Facebook.
The FTC wants to know more about acquisitions made between January 1, 2020, and December 31, 2019. It's apparently on the hunt for information that wasn't reported to the antitrust agencies under the Hart-Scott-Rodino (HSR) Act.
"Digital technology companies are a big part of the economy and our daily lives," said FTC Chairman Joe Simons. "This initiative will enable the Commission to take a closer look at acquisitions in this important sector, and also to evaluate whether the federal agencies are getting adequate notice of transactions that might harm competition. This will help us continue to keep tech markets open and competitive, for the benefit of consumers."
Apple bought Beats during the period in question, and the company is known to buy multiple companies each and every year. The information Apple will hand over alone will likely be enough to keep the FTC busy. And that's before they get to Facebook buying Instagram and WhatsApp.
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