Meta Platforms Inc., Facebook’s parent company recently acquired Lofelt. This is a startup in Berlin, Germany that develops sensory reproduction technology in virtual reality spaces.
This event comes at a time when the legal dispute between Meta and the Federal Trade Commission is in full swing.
In July, the FTC announced it would seek to block Meta’s acquisition of virtual reality studio Within Unlimited.
At that time, under the FTC’s radar, Meta was a big player in the field of virtual reality. It is also trying to use its financial clout to dominate the industry.
The documents indicate that Meta is lofelt’s sole shareholder. Prior to the deal, Lofelt had raised about 10 million euros (about $10 million) in funding and had a team of about 25 employees.
