Reuters reveals Google offering data pledge in bid to win EU okay for Fitbit buy

On July 14, Reuters was first to report that Google has offered not to use health data of fitness tracker company Fitbit to help it target ads in an attempt to address EU antitrust concerns about its proposed $2.1 billion acquisition. The story confirms a Reuters exclusive the week prior reporting that such a data pledge may likely help Google secure EU approval for the deal.

Market Impact

The news of a data pledge likely helping Google secure EU approval sent Fitbit shares soaring by more than 7%, its highest gain in eight months, while trading volumes tripled.

Article Tags
Topics of Interest: DealsTech
Type: Reuters Best
Sectors: Equities
Regions: EuropeNorth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Market Impact