Meta to Go Ahead With Acquisition of VR Platform Within Unlimited as FTC Withdraws Case
The FTC sued to block the deal last year, filing twin complaints against Meta in federal court and its in-house court.
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The Federal Trade Commission voted to withdraw an antitrust complaint challenging Meta Platforms's purchase of virtual-reality startup Within Unlimited, officially closing the agency's case.
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The FTC sued to block the deal last year, filing twin complaints in federal court and its in-house court.
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Following a December trial in a San Jose federal court, US District Judge Edward Davila found in favor of Meta, ruling the FTC didn't offer enough evidence to prove that the acquisition would harm competition in the nascent virtual-reality industry.
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The FTC opted this month against appealing Davila's decision and paused the administrative case while it considered next steps.
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Although the judge's ruling allowed Meta to close the deal on February 10, the FTC could have continued its case in administrative court and sought to unwind the transaction. But on Friday, the FTC voted to withdraw the complaint and end the case.
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“We're excited that the Within team has joined Meta, and we're eager to partner with this talented group in bringing the future of VR fitness to life,” a Meta spokesperson said in a statement.