Meta said it plans to close deal soon
The Federal Trade Commission will not appeal a court decision approving Meta’s acquisition of virtual reality fitness biz Within, paving the way for the deal to finally close.
Meta has reoriented its business around alternate realities as it scrambles to build the metaverse, an immersive platform where users can meet and socialize with each other in a virtual environment. Although derided by some, the social network is putting its money where its mouth is with a string of acquisitions.
In the last three years, it has gobbled up at least nine VR app studios, according to court documents [PDF]. But the FTC decided to draw the line when Meta announced it was going after Within, the makers of a VR fitness app Supernatural. In July 2022, the FTC sued Meta in an attempt to block the deal, claiming the acquisition would harm competition and consumers.
