In a relief for Meta, a US court has allowed the company to go ahead with its acquisition of VR company called Within, despite an ongoing antitrust case against the tech giant by the US Federal Trade Commission (FTC).
After a seven-day hearing, the court denied the FTC's motion for preliminary injunction against the acquisition.
"After reviewing the evidentiary record and the parties' arguments, the court concludes that it is not "reasonably probable" that Meta would enter the market for VR dedicated fitness apps if it could not consummate the acquisition," read the ruling.
The FTC in July last year sought to block virtual reality giant Meta and Zuckerberg from acquiring Within as Meta is already a key player at each level of the VR sector.
The agency had alleged that Meta and Zuckerberg are planning to expand Meta's VR empire "with this attempt to illegally acquire a dedicated fitness app that proves the value of virtual reality to users."
The US court, however, has now ruled in favour of Meta, giving the FTC time to appeal.
The Within VR company owns the popular fitness app 'Supernatural'.
Supernatural offers a variety of high-quality workouts set to music, including tracks from A-list artists like Katy Perry, Imagine Dragons, Lady Gaga, and Coldplay, and virtually located in striking, photorealistic locales, like the Galapagos Islands.
Meta recently acquired the Netherlands-based 3D smart glass maker Luxexcel, as it doubles down on its metaverse dream in 2023.
--IANS
na/dpb
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app