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Facebook’s $400 million Giphy acquisition facing UK scrutiny
Facebook’s recent acquisition of Giphy is facing scrutiny across the pond. The social networking giant last month announced that it was buying the popular GIF-slinger in a deal worth $400 million with the intention of more closely integrating it with its own family of apps, setting off alarm bells for Britain’s competition watchdog. Though there is not yet a formal probe, the Competition and Markets Authority (CMA) this week served Facebook with an initial enforcement order and on Friday took the first steps in starting an investigation, inviting comments on the transaction from any interested party. Giphy — ... (full story)