Despite ongoing government antitrust investigations and lawsuits, tech giants Facebook and Google are continuing to finalize deals to purchase rival companies.
Axios reports that despite an antitrust lawsuit filed against Google by the DOJ and reports of addiitonal incoming government antitrust lawsuits, tech giants such as Facebook and Google are continuing to finalize deals to purchase smaller rivals. On Monday, Facebook announced that it has purchased a customer service chatbot startup called Kustomer for $1 billion, the same amount the company paid for the photo-sharing app Instagram in 2012.
Axios states that the new deal is just another sign that the largest tech companies in the world will not stop buying smaller companies despite facing enormous antitrust scrutiny worldwide. Google is also awaiting approval for the acquisition of the health and fitness tracking device manufacturer Fitbit for $2.1 billion. Facebook also plans to acquire the animated image sharing service Giphy for $400 million.- READ MORE
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