Facebook Parent Meta Finally Consummates Kustomer Acquisition Post Regulatory Approval

After more than a year of antitrust scrutiny, Meta Platforms Inc FB completed its acquisition of Kustomer, a customer service software company.

• Meta first announced the acquisition, valued at more than $1 billion, in November 2020, Bloomberg reports.
• However, the Federal Trade Commission prosecuted Meta for “illegal monopolization,” raising questions regarding its regulatory approval. 
• Related Content: Facebook Agrees To Acquire $1B Startup Kustomer To Improve Services For Businesses
• Meta passed an FTC review and a separate approval by U.K. antitrust authorities.
• Kustomer builds software to manage customer messages from multiple services on one central dashboard. That’s central to Meta’s plan to make money from its two messaging apps, WhatsApp and Messenger. 
• Meta hopes businesses will use WhatsApp, which has more than 2 billion monthly users. 
• Another ongoing FTC lawsuit requires Meta to spin off its WhatsApp and Instagram purchases.
• Price Action: FB shares traded lower by 3.43% at $213.50 in the premarket on the last check Wednesday.