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|26th June 2013, 07:56||#1|
Join Date: May 2010
Google investigated over Waze deal
Google has confirmed it has been contacted by the US Federal Trade Commission regarding the acquisition of mapping-software outfit Waze.
According to Bloomberg, Google said earlier this month it was buying Waze in a deal that gave it new tools for helping users navigate traffic with smartphones.
But now, thanks to Google's dominant market position, every time Eric Schmidt coughs there is an anti-trust allegation. The outfit is undergoing scrutiny from regulators around the world as it expands its product lineup and moves further into mobile.
When Google wrote a $12.4 billion cheque for Motorola Mobility it had to jump through shedloads of regulatory hoops before the deal went though.
Waze was valued at about $1.1 billion and the New York Post reported the FTC had begun investigating it but now it has been confirmed by Google itself.
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