UK Watchdog Won't Refer Facebook's Planned Kustomer Buy for Further Review
September 27 2021 - 8:43AM
Dow Jones News
By Ian Walker
The U.K. Competition and Markets Authority said Monday that it
won't refer Facebook Inc.'s proposed acquisition of Kustomer Inc.
for a Phase 2 investigation.
The regulator had said in July that it was considering whether
the deal would lessen competition within the U.K. markets. The CMA
said Monday that it won't refer the merger for a further review
based on the information currently available.
The deal is being looked at by the European Commission. The
European Union's executive arm said last month that the proposed
transaction could reduce competition in the customer relationship
management software market.
An additional concern was that the deal would allow Facebook to
further strengthen its position in the online display advertising
market by increasing the already significant amount of data
available to it for ad personalization, the Commission said on Aug.
2.
Facebook said in November that it would buy Kustomer, a startup
that specializes in customer-service platforms and chatbots. People
familiar with the matter said the deal would value Kustomer at a
little more than $1 billion, The Wall Street Journal reported at
the time.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
September 27, 2021 09:28 ET (13:28 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Meta Platforms (NASDAQ:META)
Historical Stock Chart
From Mar 2024 to Apr 2024
Meta Platforms (NASDAQ:META)
Historical Stock Chart
From Apr 2023 to Apr 2024
