At the end of October, Facebook’s parent company Meta announced the acquisition of virtual reality startup Within: the company behind music fitness app Supernatural. But woah there, fella! This may now be the latest tech acquisition to run into some trouble with regulators.
One regulator, anyway: the Federal Trade Commission in the US. “Shortly after Thanksgiving, the Federal Trade Commission opened an in-depth probe of the acquisition, meaning Meta may not be able to finalize the acquisition for another year,” reported The Information. It cited the size of the deal – reportedly more than $400m – as one reason why the FTC is stepping in here when it has not for previous acquisitions like Beat Saber.
The news comes shortly after the UK’s competition regulator the CMA told Meta to sell another recent acquisition, Giphy.