Meta to Complete Within VR Acquisition, FTC Won’t Appeal Court Order for Merger

Isaiah Richard, Tech Times 07 February 2023, 01:02 am

Meta and Within are nearly closing in on completing its merger as the courts have already allowed the Big Tech company to continue with its purchase. The FTC, who was among those who initially blocked the merger, will no longer appeal the court decision for this to push through, a spokesperson in the agency officially confirmed in a report.

There were concerns regarding Meta's acquisition of Within VR, particularly with the Antitrust laws, that it would significantly affect as the company would expand its control of the market should this complete.

Meta-Within Merger to Complete Soon, Court Decides

Senate Commerce Committee Considers Nominees For NASA Administrator And Federal Trade Commissioner

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WASHINGTON, DC - APRIL 21: FTC Commissioner nominee Lina M. Khan testifies during a Senate Commerce, Science, and Transportation Committee nomination hearing on April 21, 2021 in Washington, DC. Nelson was a senator representing Florida from 2001-2019.

The Meta and Within Unlimited merger is to complete soon, and this was from the recent court decision it received that does not prevent the two companies from combining forces and developing new experiences in the future.

According to The Verge, the decision highly favors Meta after the proceedings, which heard both Meta and Within's side and the FTC.

The company's goal is to co-develop future virtual experiences, including a VR workout program for its Oculus devices.

FTC Would Not Appeal Court Decision on Acquisition

Due to antitrust concerns, the Federal Trade Commission previously blocked the Meta and Within merger to complete its acquisition of the VR games developing company. However, after the court decision had already ruled in favor of Meta, the agency claimed that it would no longer chase this case and prevent the acquisition from completing.

This marks one of the major losses in FTC Chairperson Lina Khan's stint as head of the agency.

Meta and Within VR Acquisition

Meta and Within Unlimited have worked out a merger before, and the companies' announcements flagged several agencies concerning another antitrust violation. In early December 2022, Meta faced the Commission regarding this merger deal, with the FTC initially blocking the changes due to the Facebook company diminishing the competition.

The FTC previously claimed that Meta would have an "unfair advantage" against the industry competitors for its upcoming acquisition, significantly as its VR projects would grow with the merger.

Co-founder and CEO Mark Zuckerberg appeared in the court hearings to defend this and explain their side, citing that it would be mutually beneficial for both companies to combine their resources to create new experiences.

Meta has previously purchased Oculus to jumpstart its focus on VR and AR experiences. The company still wants to expand this leg for its massive focus on the metaverse in the future. It is now moving forward to completing the acquisition of Within Unlimited, one where it would not face any appeals from the FTC.