Facebook secured EU antitrust approval for its acquisition of US customer service startup Kustomer after agreeing to provide rivals free access to its messaging channels for 10 years, reported Reuters. The European Commission said the pledge addressed competition concerns. Reuters reported last month that the world’s largest social network would gained conditional EU clearance for the deal.
“Our decision today will ensure that innovative rivals and new entrants in the customer relationship management software market can effectively compete,” EU antitrust chief Margrethe Vestager said in a statement.
Related: Facebook’s Kustomer Deal Faces EU Antitrust Probe
Kustomer, which sells CRM software to businesses so they can communicate with consumers by phone, email, text messages, WhatsApp, Instagram, and other channels, would help Facebook scale up its instant messaging app WhatsApp, which has seen usage soar during the COVID-19 pandemic.
A buying spree of startups by big companies has triggered concerns on both sides of the Atlantic, with regulators worried about so-called killer acquisitions aimed at shutting down potential rivals before they are big enough to be a threat.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI