Britain's competition watchdog said Tuesday it launched a formal inquiry into Google's takeover of cloud data analytics company Looker Data Sciences, as it intensifies scrutiny of technology deals. googletag.cmd.push(function() googletag.display('div-gpt-ad-1453799284784-2'); ); The Competition and Markets Authority said it had notified the two companies on Monday that it was opening an initial inquiry and would decide on Feb. 13 whether to escalate it to a more in-depth investigation.The authority said this month it was looking into whether the $2.6 billion acquisition would result in less competition in the U.K. market.Google said in a statement that "the acquisition of Looker has received regulatory approval in the U.S. and Austria and we continue to make progress with regulators in the U.K."The U.S. tech giant said in June it was buying Looker, which helps customers visualize data, as it seeks to compete with rivals including Amazon in the lucrative cloud service business.The inquiry comes a week after the authority stepped up pressure on a separate tech deal, by threatening Amazon with an in-depth investigation of its plan to buy a stake in food delivery platform Deliveroo unless it came up with proposals to address competition concerns.Google has also come under regulatory pressure on various fronts in the U.S., where authorities at both the state and federal level have opened investigations into tech giants. 2019 The Associated Press. All rights reserved.
In August 2018, American retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing Flipkart at around US$20 billion.[9] Flipkart is valued at $37.6 billion as of 2022.[10] It is planning to go public through a listing in the United States of America in 2023.[11]
Amazon probed over plan to buy Deliveroo stake
On 4 May 2018, it was reported that Walmart had won a bidding war with Amazon to acquire a majority stake in Flipkart for US$15 billion.[52][53] On 9 May 2018, Walmart officially announced its intent to acquire a 77% controlling stake in Flipkart for US$16 billion.[54] Following the purchase, Flipkart co-founder Sachin Bansal left the company. The remaining management team reported to Marc Lore, CEO of Walmart eCommerce US.[55] Walmart president Doug McMillon cited plans to help Flipkart with its sourcing and supply chain, while tapping on its expertise to expand Walmart globally.[56] Indian traders protested against the deal, considering it a threat to domestic business.[57][58]
In October 2020, Flipkart acquired a 7.8% stake in Aditya Birla Fashion and Retail for US$204 million.[75][76] The following month, Flipkart acquired the intellectual property of gaming startup Mech Mocha for an undisclosed amount.[77] The acquisition formed part of Flipkart's plans to gain and retain users by offering casual games.[78] In November 2020, Flipkart acquired augmented reality company Scapic, which provides a suite of tools to create and publish augmented reality, virtual reality, and 3D content quickly and without coding.[79]
OVERSEEING billions of pounds of retirement money is a serious business, but Andy Briggs is showing little sign of feeling the strain. In fact, the chief executive of FTSE 100 insurer Phoenix Group exudes the confidence of a man with a plan as he talks over Zoom from his West London home. 2ff7e9595c
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