In May 2012 the Office of Fair Trading (OFT) opened a merger investigation into the acquisition by Facebook Inc (Facebook) of Instagram Inc (Instagram). This was the first time a merger involving Facebook, the global colossus in the social networking industry, publicly came under the scrutiny of the OFT. The merger was also reviewed on the other side of the Atlantic by the US Federal Trade Commission (FTC). The outcome of both investigations became known in August 2012 and both authorities cleared the deal. The OFT found that the merger under examination was not expected to result in a substantial lessening of competition within the relevant market or markets in the UK and decided not to refer the merger to the Competition Commission (CC). The FTC similarly closed its investigation
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The UK OFT decides not to refer an anticipated acquisition in the social networking industry to the Competition Commission (Facebook / Instagram)
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