FTC Head Open to Breaking Up Big Tech Companies
In an interview with Bloomberg posted this week, Federal Trade Commission Chairman Joe Simmons acknowledged that he’s more than willing to break up major tech companies by undoing past mergers and acquisitions if its found that those business moves are harming competition throughout the industry. Chairman Simons, who is in the midst of a broad review of the tech sector, did say that breaking up a company can be a major challenge, but it could be the right course of action to restore a normal level of fair competition to an industry that is certainly very top heavy.
Data from a July 2018 report in Visual Capitalist shows that Google leads the way in terms of the number of acquisitions made by a tech company since 1991 with 214. Behind them you’ll find Cisco (193), Microsoft (189), IBM (181), HP (117), and Apple (89).
Number of acquisitions by tech companies, through July 2018. | Credit: Visual Capitalist