Stock Groups

Meta closes Kustomer deal after regulatory approval -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: This illustration, taken on November 2, 20,21, shows a 3D printed Facebook’s new logo Meta. REUTERS/Dado Ruvic/Illustration

(Reuters) – Meta Platforms Inc announced Tuesday that it has closed the acquisition of Kustomer in America, a startup providing customer services, following conditional EU antitrust approval.

Although the purchase was announced initially in November 2020, it was delayed by regulatory scrutiny and a thorough investigation from European Commission.

This probe was conducted amid concerns from regulators on both sides.

Meta, previously known as Facebook (NASDAQ :), was approved by the EU after it agreed to give rivals unlimited access to its messaging channels over a period of 10 years.

Kustomer provides CRM software for businesses to enable them to communicate with customers via phone, email and text messaging, WhatsApp, Instagram, or other channels. The acquisition would allow Facebook to increase its use of WhatsApp instant messaging app, which has seen a surge in usage since the COVID-19 epidemic.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]