EU Antitrust to Decide on Google's Acquisition of Photomath
The European Union (EU) Antitrust regulator has fixed the date 28th March, 2023 for its decision on Alphabet (GOOGL.O) unit Google's acquisition of Croatian maths app Photomath, according to a European Commission filing.
The EU competition watchdog can clear the deal with or without remedies after its preliminary review or it can open a four-month long investigation if it has serious concerns.
A Google spokesperson said, "we can confirm that we entered into an agreement to acquire Photomath in May 2022, subject to regulatory review."
Photomath's technology will help Google to enhance its ability to provide better math learning experiences to students, helping to build out Google's homework help offerings for users.
In addition to recognizing and explaining symbolic math problems, Photomath's app utilizes the camera on a smartphone or a scientific calculator. Menlo Ventures, LearnCapital, Goodwater Capital, GSV Ventures and Cherubic are investors in the company.