EU investigates Facebook-sponsored purchase of Kustomer | WGN Radio 720

EU investigates Facebook-sponsored purchase of Kustomer | WGN Radio 720

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File – File on March 29, 2018 In the photo, the Facebook logo appears on the screen of the Nasdaq Markets site in Times Square, New York. European Union regulators have begun a detailed investigation into Facebook’s plans to acquire Kustomer because of concerns that the deal will hinder competition in customer relationship management software. The EU Commission said on Monday, August 2, 2021, that Facebook, which is concerned, is investigating as it gains more data on personalized advertising and gains even more advantage in the online advertising market. (AP Photo / Richard Drew, File)

London (AP) — European Union regulators have begun a detailed investigation into Facebook’s plans to acquire Kustomer because of concerns that the deal will hinder competition in customer relationship management software.

The EU Commission said Monday that it is also investigating acquisitions because of concerns that Facebook will get more data on personalized ads and gain an even better advantage in the online advertising market.

Social networks announced a deal in November with the aim of making more money from the prosperous WhatsApp and Messenger chat services during the pandemic by adding ways for businesses to interact with their customers. By placing customers on a single dashboard, Kustomer provides software that helps businesses manage their online conversations with their customers through a variety of channels.

“Our research aims to ensure that transactions do not harm businesses and consumers, and that the data Facebook accesses do not distort competition,” said Block’s top competitive watchdog. Margrethe Vestager, EU Executive Vice President, said in a press statement.

Facebook has pledged full cooperation with the European Commission, saying the deal is “competitive” and will bring further innovation.

“More people will benefit from faster, richer, customer service that is available anytime, anytime,” Facebook said.

Last week, the UK competition watchdog began investigating transactions on concerns that could lead to a “significant reduction” in competition.

EU investigates Facebook-sponsored purchase of Kustomer | WGN Radio 720

Source link EU investigates Facebook-sponsored purchase of Kustomer | WGN Radio 720

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