Meta has begun dismantling its $2 billion acquisition of Manus Inc., a company that specializes in developing artificial intelligence-powered language translation tools. The decision comes as Beijing has expressed significant interest in acquiring Manus, and has demanded that Meta reverse the deal.
The company's board of directors had initially agreed to the acquisition, but now seems to be reconsidering its position after receiving demands from the Chinese government. In a statement, Meta said it was "not open to negotiations with the Chinese government" on the matter, citing concerns about intellectual property protection and national security. The company is now working to negotiate with the Chinese government to resolve the situation.
Meta has not revealed any details about what will happen next, but sources close to the company say that it is likely to continue to work on Manus technology in secret, while also exploring other options for acquiring the company's intellectual property. The dispute highlights tensions between China and the tech industry, with concerns over national security and data protection growing increasingly prevalent.