New Delhi: England may need Facebook to sell GIF Giphy’s website after the country competition regulator said on Thursday the investigation found an agreement between the two companies would hurt the display of the display advertising.
Facebook, the world’s largest social media company, bought Giphy, a website to create and share animated images, or GIF, in May last year to integrate it with a photo sharing application, Instagram.
The agreement was pegged at $ 400 million by Axios.
The UK market competition and authority (CMA) began the probe into the agreement in January, and in April referred to an agreement for in-depth investigations.
“The takeover of Gyphy can see Facebook attract GIF from competing platforms or requires more user data to access it.
It also eliminates potential challengers to Facebook,” said Stuart McIntosh, chairman of an independent investigation for CMA.
Another big gif provider is Google tenor.
CMA found that, before Facebook’s agreement, Giphy was considering expanding paid advertising services offered in the United States to other countries, including England.
However, Facebook stopped the Gyphy advertising partnership following an agreement, according to the regulator.
“We disagree with the initial findings of CMA, which we do not believe are supported by evidence.
As we have shown, this merger is the best interests of people and businesses in the UK – and throughout the world,” Facebook spokesman, “a Facebook spokesman said .
Representative added that the company based in California will continue to work with the CMA.
Giphy declined to comment.
This is not the first time the CMA raised concerns about the huge deal.
the deal $ 9.2 billion-Adevinta Ebay has attracted attention, and the CMA has requested a new owner Chain Asda supermarkets to correct fuel competition issues.
Watchdog said that he had been involved with other agents that reviewed the agreement to help CMA investigations, and now invite comments from interested parties on September 2 for temporary findings.