Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Alphabet Inc.
  6. News
  7. Summary
    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Alphabet : Google Makes Concessions in Effort to Buy Fitbit

09/30/2020 | 11:50am EDT

By Valentina Pop

BRUSSELS -- Google's plan to buy health-tracker Fitbit is inching toward approval in Europe after the U.S. tech company made new concessions to competitors using its Android system for mobile devices.

European Union officials in August launched an in-depth probe into the Alphabet Inc. unit's acquisition plans, saying that Google's initial pledge to refrain from using Fitbit data for advertising purposes was insufficient. The $2.1 billion deal is also under review by the U.S. Justice Department and by Australia's competition authority.

The review of the Fitbit deal comes as Google and other U.S.-based tech companies face intense scrutiny in both the EU and the U.S. for allegedly anticompetitive practices. Some tech critics also say tech companies have used acquisitions to eliminate potential competitors, arguing that merger controls in the U.S. and EU haven't been aggressive enough in recent years.

Google's latest concessions make an approval more likely, according to two people familiar with the case, as the concessions include guarantees not to discriminate against rivals that use Google's Android operating system. Existing agreements between Fitbit and other health-data services, such as Strava, are also to continue unimpeded under Google's commitments. The concessions were reported earlier by Reuters.

Google said it was working with the EU to safeguard competition, in addition to ensuring that Fitbit data won't be used for advertising. "This deal is about devices, not data," Google said. "We're also formalizing our longstanding commitment to supporting other wearable manufacturers on Android and to continue to allow Fitbit users to connect to third-party services."

The European Commission, the EU's competition enforcer, has a Dec. 23 deadline to approve or reject the deal but could give its assent beforehand.

Google's use of data to potentially undermine rivals is the subject of a separate preliminary antitrust investigation by the commission, which has also leveled fines totaling more than $9 billion for the company's anticompetitive practices. Google has challenged those fines in EU courts.

--Sam Schechner in Paris contributed to this article.

Write to Valentina Pop at valentina.pop@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.62% 2351.93 Delayed Quote.34.19%
All news about ALPHABET INC.
12:28aTESLA  : Musk boosts his brand, and NBCUniversal's, on 'Saturday Night Live'
RE
05/07ServiceNow CIO Looks to Retain Lockdown Lessons in Hybrid Work Plans
DJ
05/07S&P 500, Dow end at record highs as weak jobs data eases rate worries
RE
05/07S&P 500, Dow hit record highs as weak jobs data eases rate worries
RE
05/07AMAZON COM  : pauses annual Prime Day sale in India due to COVID-19
RE
05/06ALPHABET  : Texas federal judge hears arguments for date of Google trial
RE
05/06STREET COLOR : Google Cloud Introducing New Docking Stations Designed for Chrome..
MT
05/06Dow hits record high as cyclicals rise on jobless claims data
RE
05/06Trump Is Still Banned on YouTube. That Could Change.
DJ
05/06RENT COM AU  : Launches RentPay Platform; Shares Fall 11%
MT
More news
Financials (USD)
Sales 2021 236 B - -
Net income 2021 59 589 M - -
Net cash 2021 139 B - -
P/E ratio 2021 26,7x
Yield 2021 -
Capitalization 1 591 B 1 591 B -
EV / Sales 2021 6,15x
EV / Sales 2022 5,20x
Nbr of Employees 139 995
Free-Float 90,8%
Chart ALPHABET INC.
Duration : Period :
Alphabet Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 47
Average target price 2 785,05 $
Last Close Price 2 351,93 $
Spread / Highest target 33,0%
Spread / Average Target 18,4%
Spread / Lowest Target 0,12%
EPS Revisions
Managers and Directors
NameTitle
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
Louis John Doerr Independent Director
Ann Mather Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ALPHABET INC.34.19%1 591 309
BAIDU, INC.-11.42%67 733
NAVER CORPORATION23.42%47 845
Z HOLDINGS CORPORATION-22.25%33 971
YANDEX N.V.-5.71%23 355
SOGOU INC.3.80%3 281