Meta Platforms Inc, the owner of Facebook, is close to acquiring Greek audio software startup Accusonus, a person with knowledge of the deal said.
Facebook spokespeople declined to confirm the deal, which the source said would be announced in the next few days.
“We don’t comment on rumours or speculation,” a Facebook spokesperson said in an email.
Accusonus representatives did not respond to calls or messages requesting comment.
It would be the second major deal involving a Greek startup this year following JPMorgan’s purchase of a 49% stake in Athens-based payment fintech Viva Wallet, subject to regulatory approval, announced last week.
Meta has been hiring engineers and buying up gaming studios as it expands its virtual reality activities and builds up the architecture that will underpin its metaverse project, an online environment using game and media technology to create spaces for communication and other activities.
The group plans to create 10,000 jobs in the European Union over the next five years to help build the metaverse, which many in the tech sector see as key to the next stage of growth following the mobile internet revolution of recent years.
The government in Athens aims to attract investment as it tries to expand its economy away from tourism and create a more business-friendly environment following a decade-long financial crisis.
Greece has developed a flourishing startup sector since the crisis, which forced tens of thousands of well-qualified young people to emigrate to seek work. Many have since returned home with international experience that has made them potentially valuable recruits for multinational employers.
The government of Prime Minister Kyriakos Mitsotakis expects the economy to have rebounded with growth of more than 8% in 2021 following a pandemic-hit 2020.
Source: Reuters.com