Facebook owner Meta completed its acquisition of virtual reality firm Within Unlimited after a court rejected an attempt by US regulators to block the deal over competition concerns.
It has taken more than a year for the deal to secure the necessary approvals to move forward. The financial terms were not disclosed.
The Federal Trade Commission (FTC) had filed an antitrust suit in the federal court to block the deal in July 2022, arguing that Meta was trying to unfairly buy an advantage in the VR market with the purchase of Within, maker of fitness app ‘Supernatural’. Before Within, Meta had acquired another key developer, Beat Games.
FTC has now said it would not appeal the February 1 decision, where a US judge denied the request but gave the FTC time to decide whether it would appeal its rejection.
Within joins Meta
Jason Rubin, Vice-President of Play, updated a blog last night, adding: “Today, we’re officially welcoming the Within team to Meta! We’re eager to partner with this talented group in bringing the future of VR fitness to life.”
“Today marks an exciting new chapter for Within and Supernatural, as we officially join Meta,” said Within CEO Chris Milk on Twitter. “We’re elated for the opportunity to bring joy, awe, wonder, and a happier, healthier life to more people around the world.”
In the original post on October 29, 2021, Rubin said about Meta’s plans with Within, which was already part of Quest: “Virtual reality and the metaverse bring us all the opportunity to connect and share experiences in meaningful and magical ways. Thousands of people have already used the power of virtual reality to build fitness routines with Supernatural, an immersive VR fitness service that aims to make your daily workout the highlight of your day.
“Like us, Supernatural, and their creators at Within, believe deeply in the power of the metaverse and VR to bring people together and empower positive change. Today, I’m happy to announce that Within (along with Supernatural) have entered into an agreement to join Meta.
“Supernatural will continue to be operated independently as part of Reality Labs, and will continue to create fitness, wellness, and social experiences in VR, helping people achieve their goals in the most joyful and connected way possible.”
The loss was seen as a setback for FTC head Lina Kahn, who has been an advocate of imposing tougher scrutiny on Big Tech companies on antitrust matters.
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