FTC Asks Alphabet/Google, Amazon, Apple, Facebook and Microsoft About Past Deals
The FTC ordered Alphabet/Google, Amazon, Apple, Facebook and Microsoft to provide information about acquisitions they made since 2010 that weren't reported to that agency or DOJ under the Hart-Scott-Rodino Act. The FTC Act Section 6(b) orders "will help the FTC deepen its understanding of large technology firms’ acquisition activity, including how these firms report their transactions to the federal antitrust agencies, and whether large tech companies are making potentially anticompetitive acquisitions of nascent or potential competitors that fall below HSR filing thresholds," the agency said Tuesday.
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“This initiative will enable the Commission to take a closer look at acquisitions in this important sector, and also to evaluate whether the federal agencies are getting adequate notice of transactions that might harm competition," said Chairman Joe Simons. "This will help us continue to keep tech markets open and competitive.”
The tech companies must "provide information and documents on their corporate acquisition strategies, voting and board appointment agreements, agreements to hire key personnel from other companies, and post-employment covenants not to compete," the agency announced. They seek details on "post-acquisition product development and pricing, including whether and how acquired assets were integrated and how acquired data has been treated."
Commissioners OK'd the move 5-0. Commissioners Christine Wilson and Rohit Chopra issued a statement.
The five companies didn't comment immediately.