Federal antitrust regulators had sought to block the acquisition on the grounds that it would hurt competition in the emerging virtual reality market.
But U.S. District Judge Edward Davila denied the Federal Trade Commission's request for a preliminary injunction against the deal. The judge's ruling said the agency did not provide sufficient evidence to prove its case.
Meta said it will now proceed with its acquisition of Within Unlimited.
The FTC had argued that Meta's acquisition of the small company - reminiscent of Facebook's early purchases of Instagram and WhatsApp - would hurt competition in the emerging virtual reality market.
Allowing the tech giant to buy Los Angeles-based Within Unlimited, the FTC had argued, would violate antitrust laws and dampen innovation, hurting consumers who may face higher prices and fewer options outside of Meta-controlled platforms.
Meta Platforms Inc. said in a statement after the ruling was unsealed that it is "pleased" with the decision.
هذه القصة مأخوذة من طبعة February 11, 2023 من Techlife News.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 11, 2023 من Techlife News.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
AMAZON REPORTS STRONG EARNINGS FOR Q4, BUT STOCKS DIP DUE TO OUTLOOK FOR THE FIRST QUARTER
Amazon reported better-than-expected revenue and profits for the holiday shopping period, but its stocks dipped in after-hours trading due to disappointing guidance for the current quarter.
HOUSE LAWMAKERS PUSH TO BAN AI APP DEEPSEEK FROM US GOVERNMENT DEVICES
A bipartisan duo in the U.S. House is proposing legislation to ban the Chinese artificial intelligence app DeepSeek from federal devices, similar to the policy already in place for the popular social media platform TikTok.
LOOKING FOR LOVE THIS VALENTINE'S DAY? DON'T FALL FOR INSTAGRAM ROMANCE SCAMS
If your social media suitor seems too good to be true, it might be a scam.
MUSK SAYS HE'LL WITHDRAW $97.4 BILLION BID FOR OPENAI IF CHATGPT MAKER REMAINS NONPROFIT
Elon Musk says he will abandon his $97.4 billion offer to buy the nonprofit behind OpenAI if the ChatGPT maker drops its plan to convert into a for-profit company.
HOW ELON MUSK $97.4 BILLION BID COMPLICATES MATTERS FOR OPENAL
OpenAI CEO Sam Altman has dismissed a $97.4 billion takeover bid led by rival Elon Musk, but the unsolicited offer could complicate Altman's push to transform the maker of ChatGPT into a for-profit company.
CALIFORNIA'S INSURER FOR PEOPLE WITHOUT PRIVATE COVERAGE NEEDS $1 BILLION MORE FOR LA FIRES CLAIMS
California’s plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out claims related to the Los Angeles wildfires, the state Insurance Department said this week.
HOW PHOTOS LOST IN AMERICAN DISASTERS FIND THEIR WAY HOME, WITH A LITTLE HELP FROM PEOPLE WHO CARE
Hollowed-out homes. Cars entombed by mud. Unpeopled roads. Belongings reduced to dirt and debris.
ELON MUSK-LED GROUP PROPOSES BUYING OPENAI FOR $97.4 BILLION.OPENAI CEO SAYS 'NO THANK YOU'
A group of investors led by Elon Musk is offering about $97.4 billion to buy the nonprofit behind OpenAI, escalating a dispute with the artificial intelligence company that Musk helped found a decade ago.
THE WOMEN OF 'THE WHITE LOTUS' CHECK INTO SEASON 3 IN THAILAND
Get ready to check into \"The White Lotus\" in Thailand for Season 3 - this time, sadly, there's no room for Jennifer Coolidge, who went overboard in the second season.
JAPAN'S SOFTBANK REPORTS LOSS WEEKS AFTER ANNOUNCING AI INVESTMENT
Japanese technology company SoftBank Group Corp. reported a 369.2 billion yen ($2.4 billion) loss for the fiscal third quarter as it racked up red ink from its Vision Fund investments.
