Regulators of the European Commission have unconditionally approved proposed acquisition of Photomath, Inc. (Photomath) by Google LLC (Google) on Tuesday.
The Commission stated it approved the deal after verifying it “would not significantly reduce competition in the markets.”
The Commission’s mandate regarding merger control, as specified in its statement, is to “prevent concentrations that would significantly impede effective competition in the EEA or any substantial part of it.”
Photomath’s website states the app has more than 300 million downloads, making it the world’s most used math app. Investors in the math-solving app include Cherubic, LearnCapital, Goodwater Capital, GSV Ventures and Menlo Ventures.
Founded by Damir Sabol, the app was originally created “by a dad who was looking for a way to help his kids with their math homework.”
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