Google Inc. (NASDAQ: GOOG), Apple Inc. (NASDAQ: AAPL) – Google Considered Buying Epic Games During Legal Battle: What Investors Need To Know
Video game company Epic games is waged in a ‘David vs. Goliath’ battle bringing lawsuits against both Apple Inc (NASDAQ: AAPL) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) last year. The latest unsealed documents from Google’s lawsuit reveal how the tech giant has considered reducing the risk of a protracted trial.
What happened: Epic Games is suing Google for fees charged in the Google Play app store for downloading games such as “Fortnite Mobile.”
Unsealed documents in the court case show for the first time that Google has considered buying a stake in Epic Games or outright acquiring the company.
“It was without our knowledge at the time, and due to the court’s protective order, we just learned that Google is considering buying Epic to end our efforts to compete with Google Play,” he said. said the CEO and founder of Epic Games. Tim sweeney tweeted.
The founder of Epic Games said the company was unaware of the negotiations and questioned whether the move would have been “some sort of hostile takeover attempt.”
Related Link: Epic Games Vs. Apple Lawsuit Reveals How Much Money ‘Fortnite’ Made
Why this is important: The news that Google was considering buying Epic Games could strengthen the small video game company’s argument that Google has unfair practices.
News of the takeover also comes as big tech companies like Google face pressure over the government’s monopoly practices.
Epic Games pushed to distribute “Fortnite” through other channels to reduce fees paid, which was pushed back by Apple and Google. “Fortnite” was launched in mobile stores of both companies. Users can download “Fortnite Mobile” on Android devices via sideloading.
A published document calls Epic’s plans “contagion” to Google. Epic said Google is offering a “special offer” to launch “Fortnite” on the Google Play Store.
Epic Games is partly owned by Tencent Holdings ADR (OTC: TCEHY) and Sony Corp (NYSE: SONY). The games company was valued at over $ 17 billion at the end of 2020 when Sony invested and is now worth over $ 28 billion in 2021.
Photo: Courtesy of Fortnite
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