/ By Jewish Business News Correspondent /
According to “The New York Post” the US Federal Trade Commission (FTC) will examine whether the acquisition of Waze, the Israeli navigation app company by Google Inc. (Nasdaq: GOOG) tow weeks ago, for $1.1 billion conforms with US antitrust law.
It was reported, a week ago, that a US consumer organization, “Consumer Watchdog”, called on the antitrust agencies to block Google’s acquisition of Waze, because it will give Google Maps, which already has a huge lead over other competitors, an unfair and possibly insurmountable advantage over the other options.
“The New York Post” says that the FTC will examine the acquisition, in which Google effectively “swallowed” one of its main competitors in the online mapping sector, because Google is “already a force in the digital mapping industry”. But the reporter says that Google believed it did not need to submit the deal for review because “Waze’s US revenue is less than $70 million.”