Google's US$2.1 billion acquisition of Fitbit means two of the world's largest technology companies now dominate in fitness tracking devices and data. * Google slapped with $2.5 billion fine by EU for abusing online ads marketThe acquisition is expected to close sometime in 2020, Fitbit said. The Fitbit deal is Google's second major acquisition this year. Google argues the tie-up isn't anti-competitive because Google is well behind Amazon.com and Microsoft in the cloud-computing market. Regulators could require Google to make a legal commitment not to use Fitbit data for advertisements or other purposes through a consent decree that could carry penalties if Google breaks it, Mitnick said.

Source: Stuff November 01, 2019 23:48 UTC