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Facebook’s Parent Company Wins in Virtual Reality Startup Acquisition Case Against the US FTC

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It is reported that the United States Federal Trade Commission (FTC) gave up its last attempt to prevent Meta Platforms Inc. from acquiring a virtual reality s…

Facebooks Parent Company Wins in Virtual Reality Startup Acquisition Case Against the US FTC

It is reported that the United States Federal Trade Commission (FTC) gave up its last attempt to prevent Meta Platforms Inc. from acquiring a virtual reality startup on Friday local time and handed the final victory to the Facebook parent company. Less than a month before the FTC announced that it had abandoned the administrative procedures for this transaction, a federal judge rejected the FTC’s request for the court to suspend Meta’s acquisition of Within Unlimited. (Cailian Press)

US FTC abandons to block Meta’s acquisition of VR start-up Within Unlimited

Interpretation of the news:


On Friday, the United States Federal Trade Commission (FTC) announced that it has given up its attempt to prevent Facebook’s parent company, Meta Platforms Inc., from acquiring virtual reality startup Within Unlimited. The FTC’s decision came less than a month after a federal judge rejected the commission’s request to suspend Meta’s acquisition of Within Unlimited.

The FTC’s decision to drop its challenge to the acquisition marks a significant victory for Meta Platforms, which has been seeking to expand its holdings in the virtual reality space. Meta has been investing heavily in virtual reality and augmented reality technologies over the past few years, and the acquisition of Within Unlimited represents a key part of its broader strategy in this area.

The FTC had originally sought to prevent Meta from acquiring Within Unlimited on the grounds that the deal would give the social media giant an unfair advantage in the virtual reality market. The commission argued that the acquisition would create a barrier to entry for other companies, limiting competition and potentially driving up prices for consumers.

However, the court rejected these arguments, finding that the acquisition was unlikely to harm competition in the virtual reality market. The court noted that there were other companies operating in the space, and that Meta’s acquisition of Within Unlimited was not likely to significantly alter the competitive landscape.

The FTC’s decision to drop its challenge to the acquisition is a clear indication that the commission is unlikely to pursue similar cases in the future. It suggests that the agency may be more willing to allow large tech companies to acquire smaller rivals in order to expand their capabilities and strengthen their market position.

Overall, this development highlights the ongoing tension between regulators and tech companies in the US, as regulators seek to balance concerns around competition and monopolies against the need to foster innovation and growth in the tech sector. While the outcome of this case is a clear win for Meta Platforms and its VR ambitions, it remains to be seen what impact this decision will have on the broader tech industry and the regulatory landscape in the years to come.

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