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(Sharecast News) - Chinese regulators are to probe Meta's $2bn acquisition of artificial intelligence start-up Manus, it was announced on Thursday.
The US owner of Facebook, Instagram and WhatsApp acquired Singapore-based Manus - which was founded in China - late last month, as it looks to bolster the use of AI across its brands. Financial terms of the deal were not disclosed, although it was reported to be worth around $2bn.
However, China's Ministry of Commerce has confirmed it will now review the takeover.
Speaking at a press briefing, spokesperson He Yadong said regulators would assess if the deal was consistent with China's regulations of export controls, technology imports and exports, and external investments.
According to CNBC, he added: "The Chinese government consistently supports enterprises in conducting mutually beneficial transnational operations and international technological cooperation in accordance with laws and regulations."
Manus, a specialist in cutting edge AI agents, relocated from China to Singapore last summer. Meta's products are currently blocked in China.
The review is in its early stages and may not lead to full investigation.
Meta has yet to comment.
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