February 23 (SeeNews) – Global technology giant Google said it is set to take over Croatian EdTech app Photomath – a math learning platform with over 300-million downloads.
“We can confirm that we entered into an agreement to acquire Photomath in May 2022, subject to regulatory review,” Google said in a statement emailed to SeeNews late on Wednesday.
The value of the deal was not disclosed.
Photomath was developed by engineer Damir Sabol, who was looking for a way to help his kids with their math homework, according to its website. Powered by advanced machine learning technology, the Photomath app instantly scans printed or handwritten math problems to explain all levels of math, step by step. It covers a wide range of math topics, including elementary math, algebra, geometry, calculus, trigonometry, and statistics.
Google representatives have said that the company has a long standing commitment to the learning and education space and this offers a potential opportunity to better address students learning needs.
“Photomath’s technology will help Google to enhance its ability to provide better math learning experiences to students, helping to build out Google’s homework help offerings for users,” according to the statement.
The antitrust authority of the European Commission has set March 28 as a provisional deadline to take a decision about the notified takeover.
It could be one of the largest acquisitions in Croatia so far and potentially it could be bigger than the 1.0 billion kuna ($141 million/133 million euro) acquisition of gaming company Nanobit in 2020, the Jutarnji List daily reported on Wednesday, without citing sources.
($ = 0.942 euro)
Source: seenews
