Meta's plans to acquire "Supernatural" VR workout app creator, Within, gets a block from the Federal Trade Commission and is facing a significant dispute on the purchase. Not only that, but the FTC also filed an antitrust lawsuit against Meta for this acquisition, saying that it eliminates the competition by illegally acquiring the VR app development company.
Meta Within Acquisition: Blocked by the FTC for Illegal Purchase
A release by the FTC's Competition Bureau talked about its recent blocking of Meta's acquisition for the world, and it said that it is not allowing the Meta Within purchase to take place now. According to the FTC, the Meta Within deal is an "illegal acquisition" that aims to expand its "virtual reality empire" with antitrust behavior.
Within Unlimited is a known company in the VR industry, and it made the famous "Supernatural" VR workout app that is available on the Meta Quest platform. The company also focuses on other AR features for the smartphone and tablets.
The "Supernatural" workout app was released for the Meta Quest last April 2020, and it is one massive app in the platform that offers a unique experience to its users.
FTC Antitrust Lawsuit vs. Meta: Anticompetition Tactics
The FTC is bringing an antitrust lawsuit against Meta in their latest acquisition that focuses on an alleged anticompetition tactics to take the top spot for its VR department. Within's acquisition will not take place now, especially as Meta is facing this block from the FTC, and it would bring the case to court and hear out both sides of the lawsuit.
Meta and its VR Ventures
One of the latest ventures for Meta's VR venture is the price increase for its virtual reality hardware that ups the value of the Quest 2 headsets by August 1. Instead of the regular $299 for the 128GB variant and the $399 for the 256GB, it will now see an additional $100 on its price tags.
The devices will see a starting price of $399 for the base release and $499 for the larger storage capacity.
Its Meta Quest experience that introduces the VR to the world is now offering to bring the public more accessibility features with its updates and offers. Now, the company is no longer requiring users to have a Facebook account so that they may sign up for the online service, with the company previously asking for it from users.
Meta has massive VR ventures as the company focuses on other developments and add-ons to its brand that would help make it a prominent name in the industry. However, its acquisitions do not see that much support from regulatory agencies as they allegedly practice antitrust behavior to get to the top.
Related Article : Meta's Mark Zuckerberg Unhappy With Vacation Leave Question by Chicago-Based Employee
This article is owned by TechTimes
Written by Isaiah Richard
