17.6 C
New York
Tuesday, September 27, 2022

Buy now

spot_img

The US Sues To Block Meta’s Purchase Of Virtual Reality Firm


On Wednesday, the US Federal Trade Commission (FTC) sought a court order to block Facebook parent Meta Platforms from purchasing virtual reality (VR) firm Within Unlimited. 

The FTC filed a request in a federal court in San Francisco for a temporary restraining order and a preliminary injunction against the tech giant, calling it a “global technology behemoth.”

The FTC noted Meta’s ownership of major apps such as Instagram, WhatsApp, and Messenger and claimed its “campaign to conquer VR” started in 2014 following its acquisition of VR headset firm Oculus.  

The FTC argued that Facebook’s acquisition of Within would create a “monopoly” in the market for VR-dedicated fitness apps. Within already has a popular fitness app called “Supernatural”.

Facebook struck a deal to acquire Within in October 2021 for an undisclosed amount.





Source link

Related Articles

Stay Connected

0FansLike
3,503FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Articles