The Federal Trade Commission said on Tuesday that Special orders for five tech giants – apple, Amazon, Facebook, Google And Microsoft-asking them to provide details about past acquisitions. of US Federal Trade Commission It said it would review the information to "check the trends in acquisitions", including how the company is reporting transactions and whether the company is taking potential anti-competitive measures.
"Digital technology companies are an important part of the economy and our daily lives," FTC Chairman Joe Simons said in a press release. "This initiative will allow the committee to look more closely at this important sector. M & A activity and assess whether federal agencies have paid sufficient attention to transactions that may harm competition. "
The U.S. Federal Trade Commission [FTC] has ordered these companies to provide information and documents about the "terms, scope, structure, and purpose" of acquisitions made between January 1, 2010 and December 31, 2019, including those that have not previously been approved under Hart -Scott-Rodino Act. The HSR Decree FTC has the right to review certain scale mergers and acquisitions- $ 94 million in 2020 -Before completion.
The FTC states that the orders also require information and documents on "company acquisition strategies, voting and board appointment agreements, agreements to hire key personnel from other companies, and non-competitive post-employment contracts," as well as details on: Product development and pricing.
Apple, Amazon, Facebook, Google and Microsoft did not immediately respond to requests for comment.
The FTC review comes as the government has stepped up its review of the FTC. Technology Industry Overall Justice Department in July Antitrust investigation announced Entering the technology industry more broadly, with Google as the goal, apple, Facebook with Amazon. Meanwhile, House Democrats in June Announcing an investigation Entering the technology giants is intended to explore whether the two companies are engaged in "anti-competitive behavior."
It was first released at 9:55 AM PST on February 11.
Update, 10:22 AM: Add more background information from FTC.