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Facebook’s Instagram Acquisition Receives Go-Ahead From UK OFT

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The UK Office of Fair Trading (OFT) has given Facebook the go-ahead to acquire popular photo-sharing social app Instagram.

The OFT announced it has no plans to submit particulars of the acquisition to the Competition Commission after it found that users will can still upload images from Instagram to websites other than Facebook.

“We examined this in light of them both offering social networking services, looking at potential competition in social networking services, and in the supply of photo apps and whether the merger might result in the merging parties limiting people from others using other apps or other sites,” said an OFT representative. “We concluded that the deal would not result in a substantial lessening of competition in the UK.”

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If Facebook’s Instagram acquisition was anticompetitive, the OFT would turn in its findings and refer it to the Competition Commission on August 23. However, the US Federal Trade Commission (FTC) is still reviewing Facebook’s Instagram acquisition, a brushing up that may last for a year.

Facebook, the world’s largest social network, announced the $1 billion Instagram acquisition back in April, and promised to “build and grow” the photo-sharing app without outside help.

(More: Facebook acts Smartly, buys Photo-Sharing Instagram App for $1 Billion)

(More: Facebook’s Instagram Beneficial for Businesses)

 

Image: Craighton Miller via Flickr (CC)

 

About Francis Rey Balolong

A coffee junkie who spends most of his time writing about the latest news on social media and mobile technology. I would definitely consider myself a nerd (in the coolest most hipster way possible). That being said, I love technology, music, writing, and all things mobile.

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