A US judge ruled that Meta, the owner of Facebook, does not have an illegal monopoly, a decision that could pave the way for a new era of tech mergers and acquisitions.
The US Federal Trade Commission sued the company in 2020, saying its purchases of WhatsApp and Instagram in the early 2010s unfairly stifled competition. It was part of a wider crackdown on perceived antitrust violations under the Biden-era FTC, under which even small acquisitions were closely scrutinized.
The New York Times called the ruling a “sweeping victory” both for Meta and for Silicon Valley, which relies on big companies buying small ones to fuel innovation, but which has seen such deals cool under the more hawkish regulation.