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US FTC asks judge to halt Meta deal for VR company Within |

WASHINGTON, 31 january (Reuters) – Tuesday USA The Federal Trade Commission has asked a judge to halt Meta Platforms Inc’s ( META.O ) deal to buy virtual reality software maker Within Unlimited while the parties await a court ruling. .

FTC in July Facebook and Instagram is suing the owner of Within to stop its deal and asking a judge for a preliminary injunction, saying Meta’s “campaign to conquer VR” began after it bought VR headset maker Oculus in 2014. On this case in December court there was a process.

Agency court to Meta whether to proceed with deal judge sought an injunction to refrain from closing the deal until 11:59 p.m. Pacific time on the first business day after making the decision. Or an agency court said in the lawsuit that judge may extend the current temporary restraining order by 7 days.

The current restriction expires Tuesday night at 11:59 PM Pacific Time.

The fight to determine whether Meta can move forward with this relatively small deal is being seen as a test of the FTC’s attempt to fend off what it sees as a repeat of the upcoming acquisition of smaller competitors, this time to ensure dominance. emerging virtual and augmented reality markets.

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Reporting by Diane Bartz Editing by Nick Zieminski

Our standards: Thomson Reuters Trust Principles.

2023-02-01 00:07:57
Source – reuters

Translation“24 HOURS”



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