Watchdog Gives The Nod to Facebook Over Instagram Purchase

By Jon Partridge on at

Everybody's favourite hipster-esque iPhone and Android app, Instagram, was snapped up by Facebook for a massive $1 billion a good few months ago, but the good ol' Office of Fair Trading watchdog has had a snoop into the deal to make sure everything is a-okay.

The OFT took a look into the purchase amidst fears that it would give Facebook an unfair advantage in the photo-sharing market, and if it had found Facebook guilty of those claims, it would have referred the case to the UK's competition commission which could have made things a little tricky for both parties.

In a statement, the OFT "has decided, on the information currently available to it, not to refer the following merger to the Competition Commission under the provisions of the Enterprise Act 2002." Right, now we can all get back to Instagram-ing what we had for lunch. [Financial Times via The Verge]