Alphabet, the umbrella company within which Google operates, takes over the Croatian application Photomath, reports Reuters.
The European antimonopoly regulator has set a deadline of March 28 for making a decision on the takeover of the Croatian application for solving mathematical problems by Alphabet.
– We can confirm that we have concluded a takeover agreement with Google, but the work is not finished yet because it is subject to regulatory approvals – Damir Sabol told us.
The EU’s competition watchdog can approve the deal with or without remedies after a preliminary review, or it can open a four-month investigation if it has serious concerns.
“We concluded the purchase agreement in May 2022”
– We can confirm that we have entered into an agreement to purchase Photomath in May 2022, subject to regulatory review – said a Google spokesperson.
“Photomath’s technology will help Google improve its ability to provide better math learning experiences to students, helping to build Google’s homework help offering to users,” he added.
Photomath’s app uses a smartphone camera to recognize and explain symbolic math problems.
Menlo Ventures, LearnCapital, Goodwater Capital, GSV Ventures and Cherubic are investors in the company.
Let us remind you that Damir Sabol is the founder of Photomath, and in his business career he launched several successful projects. Along with Photomath, there is the IT company Microblink, and before that he also started Iskon.