A federal judge in the United States has reportedly given approval for tech giant Meta to move forward on acquiring a virtual reality company.
According to a Feb. 1 report from Bloomberg, Judge Edward Davila in the U.S. District Court for the Northern District of Californiaan injunction by the Federal Trade Commission, or FTC, as part of an effort to block Meta from purchasing VR firm Within. However, he also issued a temporary restraining order preventing Meta from closing the deal for at least a week.and CEO Mark Zuckerberg in July in an attempt to block the tech firm from “its ultimate goal of owning the entire ‘metaverse.
Before rebranding to Meta, Facebook faced a similar “anticompetitive conduct” FTC complaint in 2020 for its acquisition of WhatsApp in 2014 and Instagram in 2012 for allegedly stifling innovation by buying the competition. The messaging and photo sharing applications had been potential challengers to Facebook’s Messenger app and social media site.and have them operate under its umbrella rather than as competitors. The FTC reportedly has a week to file an appeal to Judge Davila’s decision.
Much appreciated
I need them to do it some more