San Francisco, Feb 5 (Ians) In a relief for Meta, a US court has allowed the company to go ahead with its acquisition of VR company called Within, despite an ongoing antitrust case against the tech giant by the US Federal Trade Commission (FTC).
After a seven-day hearing, the court denied the FTC’s motion for preliminary injunction against the acquisition.
“After reviewing the evidentiary record and the parties’ arguments, the court concludes that it is not “reasonably probable” that Meta would enter the market for VR dedicated fitness apps if it could not consummate the acquisition,” read the ruling.
The FTC in July last year sought to block virtual reality giant Meta and Zuckerberg from acquiring Within as Meta is already a key player at each level of the VR sector.
The agency had alleged that Meta and Zuckerberg are planning to expand Meta’s VR empire “with this attempt...
After a seven-day hearing, the court denied the FTC’s motion for preliminary injunction against the acquisition.
“After reviewing the evidentiary record and the parties’ arguments, the court concludes that it is not “reasonably probable” that Meta would enter the market for VR dedicated fitness apps if it could not consummate the acquisition,” read the ruling.
The FTC in July last year sought to block virtual reality giant Meta and Zuckerberg from acquiring Within as Meta is already a key player at each level of the VR sector.
The agency had alleged that Meta and Zuckerberg are planning to expand Meta’s VR empire “with this attempt...
- 2/5/2023
- by News Bureau
- GlamSham
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