Meta Closes Kustomer Deal After Regulatory Approval

Meta Platforms stated on Tuesday it had closed its acquisition of Kustomer, a US customer support startup, after successful conditional EU antitrust approval for the deal final month.

The acquisition was first introduced in November 2020 however bought delayed because of regulatory scrutiny together with a full-scale investigation from the European Fee.

The probe got here amid regulatory considerations on either side of the Atlantic {that a} shopping for spree of startups by huge companies could also be so-called killer acquisitions geared toward closing down nascent rivals.

Meta, previously often known as Fb, secured EU approval after agreeing to offer rivals free entry to its messaging channels for 10 years.

Kustomer sells CRM software program to companies to allow them to talk with customers by telephone, electronic mail, textual content messages, WhatsApp, Instagram, and different channels. Its takeover would assist Fb scale up its instant-messaging app WhatsApp, whose utilization has soared in the course of the COVID-19 pandemic.

© Thomson Reuters 2022

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