6 days ago
 Source: venturebeat.com

FTC orders Google, Amazon, Apple, Facebook, and Microsoft to reveal acquisition data

Quick Summary

FTC Chairman Joseph Simons said notices being issued to Big Tech companies were intended for research but could lead to enforcement action. “It depends what they do with it,” said Matt Stoller, research director at the American Economic Liberties Project and a vocal critic of big tech companies. Paul Holland, a general partner at Foundation Capital, said big tech players’ frequent purchases of start-ups have been a double-edged sword. Alphabet spent $1 billion on an unspecified number of small acquisitions in 2019, according to securities filings. In fiscal 2019, Microsoft made 19 small acquisitions for $1.6 billion, mostly in cash.

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