FTC has argued the acquisition would help Meta create a monopoly in the emerging virtual-reality market.
A little more than a year ago, Meta pivoted to aggressively pursuing a strategy designed to transform the company known for operating successful social media platforms into an architect of the budding metaverse, an immersive world that is imagined to involve a mix of virtual, augmented and mixed reality.
Like it has in the past with companies like WhatsApp, Meta is trying to compensate for its struggles by acquiring smaller companies that possess valuable technology.
Source: Law Daily Report (lawdailyreport.net)
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