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Google Wins EU Antitrust Approval For $2.1B Fitbit Deal: Report

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Google Wins EU Antitrust Approval For $2.1B Fitbit Deal: Report

Alphabet Inc's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google has received European Union antitrust approval for its $2.1-billion — or $7.35 per share in cash — acquisition of Fitbit Inc (NYSE: FIT) after agreeing to limit how it would use the health data of its customers, according to a Reuters report.

Google’s plan to acquire Fitbit, which supplies fitness trackers and smartwatches, has been attracting criticism from privacy advocates. The deal means Google will be allowed to store user health and fitness data through Fitbit Web API software.

Google plans to store Fitbit user data separately from Google data used for advertising, according to Reuters.

Related Link: Google Will Buy Fitbit For $2.1B

 

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Posted-In: ReutersM&A Eurozone Markets