EU Conditionally Clears Facebook Acquisition of Kustomer
28 January 2022 - 1:02AM
Dow Jones News
By Ian Walker
The European Commission said Thursday that it has conditionally
approved Facebook parent Meta Platforms Inc.'s planned acquisition
of New York-based startup Kustomer.
The regulator, which started its investigation into the deal in
August, said its clearance of the deal is conditional on full
compliance with commitments offered by Meta.
"Our decision today will ensure that innovative rivals and new
entrants in the customer relationship management software market
can effectively compete," Executive Vice President responsible for
competition policy Margrethe Vestager said.
In September, the U.K. Competition and Markets Authority said it
wouldn't refer the deal for a Phase 2 investigation.
Facebook said in November 2020 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
January 27, 2022 08:47 ET (13:47 GMT)
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