Facebook cleared to acquire Instagram


The Federal Trade Commission has cleared Facebook’s proposed purchase of mobile photo-sharing app Instagram.

FTC commissioners voted unanimously to close the agency’s investigation into deal, once valued at $1 billion in cash and stock, the agency said in a statement. With Facebook’s stock price at $19 a share, half of what it was when it went public, the deal is now worth about $747.1 million.

Read more: Facebook cleared to acquire Instagram

Story added 22. August 2012, content source with full text you can find at link above.