$32 Billion Deal a Major Test for Trump Admin’s ‘MAGA Antitrust’ Philosophy
Washington, D.C — On Tuesday, Google announced a $32 billion dollar deal to acquire Wiz, a leading cloud cybersecurity company. Currently, Google is being sued in two separate cases by the U.S. Department of Justice for its dominant positions in internet search and digital advertising. Last fall, a federal judge also ruled that “Google is a monopolist, and it has acted as one to maintain its monopoly.” Last week, President Donald Trump’s Federal Trade Commission Chair Andrew Ferguson also touted his so-called “MAGA Antitrust” approach to corporate monopoly power.
The following is a statement from Emily Peterson-Cassin, director of corporate power for Demand Progress Education Fund:
“Google’s eye-popping Wiz acquisition is a major test of President Trump’s and FTC Chair Ferguson’s so-called ‘MAGA antitrust’ philosophy. One of the largest, most powerful tech companies in the world—one already facing multiple monopoly lawsuits from the Justice Department—just made a too-big-to-refuse deal to buy a leading player in cybersecurity for cloud computing. The FTC and the Justice Department must review this troubling acquisition. The Trump administration and Ferguson have talked a big game about standing up to Big Tech. Now it’s time to show the public whether they have the guts to step in and stop a big fish from being gobbled up by one of the biggest fishes in the pond.”