Google to purchase Croatian software company Photomath

EU antitrust regulators have set a March 28 deadline for their decision on Google's acquisition of Croatian maths app Photomath, according to a European Commission filing on Wednesday.

"We can confirm that we entered into an agreement to acquire Photomath in May 2022, subject to regulatory review," a Google spokesperson told Reuters.

"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," the spokesperson said.

The value of the transaction is not specified.

"This is huge news, perhaps one of the biggest that ever happened in Croatia's IT sector," Croatian IT journalist and expert, Dragan Petric, said for N1 on Wednesday. "Not because of Google's acquisition itself, but because this is one of the largest factors on the IT scene which is responsible for the popularisation of Croatia's IT."

The Photomath app uses a smartphone's camera or scientific calculator to recognize and explain symbolic math problems. Menlo Ventures, LearnCapital, Goodwater Capital, GSV Ventures and Cherubic are investors in the company.