Facebook parent company To delay acquisition of fitness app maker Within

Facebook parent company To delay acquisition of fitness app maker Within

According to a court filing, Meta Platforms, the parent of Facebook, is making a big play for virtual reality, has agreed to delay closing its deal for Within Unlimited, maker of the popular fitness app Supernatural.

The Federal Trade Commission had filed a lawsuit seeking to stop the deal in July, and had asked a judge in federal court in San Francisco for a temporary restraining order stopping the companies from closing the deal.

Meta agreed not to close until 11: 59 p.m. on December 31st or until the first business day after the judge decides whether the case will go forward, according to a joint court filing on Thursday.

The FTC, which voted 3 - 2 on whether to file a lawsuit, called Facebook a global technology behemoth, noting its ownership of popular apps, including Instagram, Messenger and WhatsApp, and said its campaign to conquer VR began in 2014 when it acquired Oculus, a VR headset manufacturer.

Facebook, which agreed to buy Within in October 2021 for an undisclosed amount, said when the lawsuit was filed that the FTC case was based on ideology and speculation, not evidence. The FTC argued in its complaint that the planned acquisition was a way for Meta to dominate virtual reality.

Meta already has the best-selling VR headset, the Quest 2, and controls the Meta Quest Store with hundreds of apps. Within, founded in 2014, creates original content for virtual reality.