Google's Waze acquisition catches FTC's investigative eyes

Written by Digital News on . Posted in News from the Web

Google's Waze acquisition catches FTC's investigative eyes

Google officially acquired the crowd-sourced mapping and traffic app Waze earlier this month, but the $1.1 billion deal is hitting a last-minute jam. The search giant has confirmed with Reuters that the Federal Trade Commission recently opened an antitrust investigation into the purchase, even though Waze will mostly operate independently. According to the New York Post, Google didn't file a review with the FTC because Waze makes less than $70 million annually, which is below the bar for an "automatic review." Reuters notes that the FTC can put a magnifying glass to any closed deals at its discretion, namely to ensure there was no previous intent simply to stifle competition. These latest happenings might make for a temporary roadblock between the integration of certain data between Waze and Maps, notes the Post -- assuming the deal indeed gets an okay from The Man. Either way, we'd imagine concessions will be made if needed, as Google's no a stranger to these types of proceedings.

Filed under: GPS, Transportation, Software

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Source:Reuters, New York Post

Read more http://www.engadget.com/2013/06/22/google-waze-acquistion-ftc-antitrust/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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