FTC ends investigation of Facebook buy of Instagram

News Wireless Global 23 AUG 2012
FTC ends investigation of Facebook buy of Instagram
The FTC announced that it has closed its investigation into Facebook's proposed takeover of Instagram. As a result the acquisition may go ahead. Facebook announced the takeover in April. At the time the deal was thought to value Instagram at around USD 1 billion, but the fall in Facebook's share price since then has substantially reduced the price of the takeover. Started in 2010, Instagram offers a mobile application for Android and iOS phones allowing users to edit and share photos from their phones.

Categories:

Mobile

Companies:

Facebook,  Instagram

Regions:

Global

Tags:

Regulations, IT - applications, M&A buyouts & divestments

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Facebook acquires Instagram for USD 1 bln

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