The European Union may include purchase prices in the criteria used to trigger its antitrust probes, aiming to catch more data-heavy transactions in serious merger reviews in another warning shot to Silicon Valley.
The European Commission said Friday the EU's revenue-based rules mean some deals can currently avoid scrutiny when the target company doesn't have significant sales even if it "already plays a competitive role, holds commercially valuable data, or has a considerable market potential for other reasons."
EU antitrust chief Margrethe Vestager, who took office at the end of 2014, has signaled a willingness to delve more into how merging companies leverage the trove of data at their disposal.
Data was one of the key considerations in the review of Facebook's takeover of messaging service WhatsApp. While the EU cleared it in October 2014, Vestager said last month officials were now "asking some follow-up questions" about privacy-policy changes.
Vestager signaled in June that Microsoft's acquisition of professional social network LinkedIn is another deal where any EU probe would likely focus on its potential to leverage vast amounts of user data.
"Players in the digital economy may have considerable actual or potential market impact that may be reflected in high acquisition values, although they may not yet generate any or only little turnover," the EU said.
