Meta reportedly moves to unwind $2B Manus deal after Beijing’s demand

Meta Platforms began unwinding its $2 billion acquisition of Manus on March 18, 2024, following a directive from Beijing to reverse the deal. The social media giant had agreed to purchase the Beijing-based AI startup in June 2023, with the transaction valued at approximately $2 billion. The Chinese government's demand for the deal's reversal marks a significant intervention in cross-border technology acquisitions. Manus specializes in AI research and development, and its acquisition by Meta was seen as a move to bolster Meta's artificial intelligence capabilities. The company has not publicly commented on the specific reasons for Beijing's order, nor has Meta detailed the process or timeline for dismantling the acquisition. This development underscores the increasing scrutiny and regulatory hurdles faced by major technology companies in international markets, particularly concerning AI technologies.