According to a petition with the United States District Court for the Northern District of California, Meta has agreed to postpone the closing for one month, or until the first day after the court rules on the FTC’s preliminary injunction trial.
Meta, the parent company of Facebook, Instagram, and WhatsApp, stated in November that it will lay off around 11,000 people, or roughly 13% of its staff. In a letter to his staff, CEO Mark Zuckerberg stated that he had hired aggressively during the epidemic and anticipated substantial development after the lockdown was lifted, but that his choice did not go as planned.
According to a court filing dated Tuesday, Facebook parent Meta Platforms does not anticipate closing its purchase transaction with Within Unlimited, creator of the famous fitness app “Supernatural” until January 31.
Meta has agreed to postpone the closing for one month, or until the first day after the court resolves on the United States Federal Trade Commission’s complaint (FTC)
According to a petition with the United States District Court for the Northern District of California, Meta has agreed to postpone the closing for one month, or until the first day after the court rules on the FTC’s preliminary injunction trial.
Meta had agreed in August not to consummate the deal until 11:59 p.m. on December 31.
The FTC filed a lawsuit in July seeking to halt the transaction, describing Facebook as a “global technology behemoth,” with ownership of popular apps such as Instagram, Messenger, and WhatsApp, and claiming that its “campaign to conquer VR (virtual reality)” began in 2014 when it acquired Oculus, a VR headset manufacturer.
In October, the FTC filed a streamlined complaint against the transaction, focused on the VR-specific exercise app market and dropping charges linked to the larger VR fitness app market.
Meta already operates a Meta Quest Store with hundreds of apps and the best-selling VR headset, the Quest 2. Within Unlimited, which was created in 2014, develops creative virtual reality entertainment. It bills itself as “the premier destination for cinematic virtual reality.”
Within is the best site for story-based virtual reality and augmented reality that is unique, engaging, and educational. We bring together the most immersive experiences from the world’s leading VR/AR developers, from riveting stories built in realms of pure imagination to documentaries that take you deeper than ever before inside the news.
Within supports all major headsets, including Oculus Quest, Rift, HTC Vive, Sony PlayStation VR, and Samsung Gear VR.
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