US Court Rules in Favor of Meta's Virtual Reality Deal

After a court ruled against a US regulator's attempt to block this deal over concerns related to competition, Facebook-owner Meta has finalized its acquisition of virtual reality company Within Unlimited, the chief executive of the VR company said.

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In a statement to AFP on Thursday, a spokesperson for the Federal Trade Commission confirmed that the agency would not appeal the decision of February 1.

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Lina Kahn, head of the FTC, lost the courtroom battle despite advocating tougher antitrust scrutiny of Big Tech companies.

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As a result, the Federal Trade Commission filed a complaint in federal court in July alleging that Meta was attempting to unfairly gain an advantage in the virtual reality (VR) market by purchasing Within, the maker of the fitness app "Supernatural."

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The FTC was denied its request by a US judge on February 1, but the judge gave the FTC time to decide whether it would appeal the decision.

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"This marks the beginning of an exciting new chapter for Within and Supernatural, as we become a part of Meta," said Within CEO Chris Milk in a tweet.

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"I'm thrilled that we can bring joy, awe, wonder, and a happier, healthier life to more people worldwide," he said.

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When the suit was filed, Facebook said that the FTC's move defied reality and it expressed confidence that its purchase of Within would be positive for users of virtual reality as well as app developers who create apps for that market in the future.