With its latest acquisition, Facebook parent Meta aims to fuel its VR ambitions
Meta, the parent company of Facebook, has purchased a Berlin firm to assist it to accomplish its virtual reality objectives.
On Friday, Meta announced the acquisition of Lofelt, a business that is creating “next generation” haptic technology for virtual reality. Haptic technology uses vibrations and other forces in devices such as controllers to provide a feeling of touch in virtual worlds.
The purchase demonstrates Meta’s commitment to the metaverse or virtual areas where individuals may work, play, and interact. One method for entering these virtual places is to put on a virtual reality headgear, such as Meta’s Quest 2.
However, US officials have begun investigating Meta’s purchases more closely. The Federal Trade Commission said in July that it is attempting to prevent Meta from acquiring Within Unlimited, a virtual reality company that produced the VR fitness program Supernatural. The FTC claims that the transaction is unlawful and that Meta is attempting to purchase its competitors rather than compete with them. Meta argued that the acquisition would not result in anticompetitive consequences and that the FTC was sending a “chilling message” to those who wish to develop in VR. In 2014, Meta, then known as Facebook, paid at least $2 billion for VR headset company Oculus.
According to the Wall Street Journal, which first reported on the purchase, Lofelt has around 25 workers and has received approximately 10 million euros ($10 million) in fundraising prior to the agreement with Meta.