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The statement previously this week that Intuit, the monetary pc software giant, will be purchasing the personal finance business Credit Karma for $7 billion ended up being striking. The technology industry is under more antitrust scrutiny than ever before; just a couple of weeks hence, the Federal Trade Commission announced a diverse inquiry to the previous decade of acquisitions because of the five tech giants that are biggest, having a consider mergers that destroy down budding competitors. This deal definitely raises that possibility: Intuit and Credit Karma compete on various fronts, and Intuit’s most recent federal filings known as Credit Karma’s tax that is free computer computer computer software as a hazard to its principal providing, TurboTax. Intuit has stated it will keep Credit Karma’s solution free, and probably has to promise just as much to regulators to obtain the deal authorized.
But antitrust enforcers, whoever core duty is always to keep markets competitive and protect consumers, are not only viewing for mergers that kill off rivals. They’re also needs to look more closely at just exactly exactly how technology organizations acquire and make use of information. And that is apparently the primary occasion right here. The firms by themselves have actually recommended that the force that is driving the merger is Intuit planning to get its fingers on Credit Karma’s stash of user information. Which raises an essential concern: Do consumers take advantage of discounts where in fact the key asset offered is the very very very own information that is personal?