Chinese authorities are reviewing Meta’s $2 billion acquisition of AI startup Manas for alleged technology control violations, the FT reported on Tuesday.
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China announced on Thursday that it would investigate Metaacquired artificial intelligence startup Manas for $2 billion to assess compliance with export control laws.
Meta acquired Singapore-based Manus last month. The US tech giant aims to integrate advanced automation into its consumer and business products.
Terms of the deal were not disclosed, but the Wall Street Journal reported that the deal was worth more than $2 billion, according to people familiar with the deal.
China’s Ministry of Commerce said it would evaluate and investigate how the acquisition complies with laws and regulations on export control, technology import and export, and foreign investment, according to a statement translated by Google.
“The Chinese government consistently supports enterprises to carry out mutually beneficial cross-border business and international technical cooperation in accordance with laws and regulations,” Commerce Ministry Spokesperson He Yadong said at a press conference.
CNBC has reached out to Mehta for comment.
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