Meta closes Kustomer deal after regulatory approval By Reuters

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© Reuters. FILE PHOTO: A 3D printed Fb’s new rebrand brand Meta is positioned on laptop computer keyboard on this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) – Meta Platforms Inc stated on Tuesday it had closed its acquisition of Kustomer, a U.S. 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 as a consequence 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 aimed toward closing down nascent rivals.

Meta, previously generally known as Fb (NASDAQ:), 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, e-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.

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