According to the CEO of virtual reality startup Within Unlimited, Facebook-owned Meta has completed its acquisition of virtual reality company Within Unlimited after a court denied US authorities’ request to halt the transaction due to worries about competition.
The Federal Trade Commission announced on Thursday that it would not challenge the judgment from February 1.
The FTC chief Lina Kahn’s defeat in court was considered as a blow because she has pushed for stricter antitrust enforcement against Big Tech firms.
The FTC filed a complaint in federal court in July, arguing that Meta was trying to unfairly buy advantage in the virtual reality (VR) market with the purchase of Within, maker of fitness app “Supernatural.”
A US judge denied the request on February 1 but gave the FTC time to decide whether it would appeal its rejection.
“Today marks an exciting new chapter for Within and Supernatural, as we officially join Meta,” said Within CEO Chris Milk on Twitter.
“We’re elated for the opportunity to bring joy, awe, wonder, and a happier, healthier life to more people around the world,” he added.
The social media giant said that the FTC’s purchase of Within defied reality when the lawsuit was first filed and expressed confidence that it would benefit both VR consumers and the app developers who serve that market.