One of the most talked about startup acquisition of 2012 has landed up in the troubled waters now. Back in April 2012, Facebook announced its purchase of Instagram photo sharing app for $1 billion and now, the social network confirms that the closure is projected to defer by the end of 2012, due to FTC probe.
The News  Â
While Facebook was filing with the Securities and Exchange Commission (SEC), the social network giant has reportedly admitted that the billion dollar Facebook-Instagram acquisition deal may take another six months for finalization. According to Facebook, this holdup has resulted from a competition investigation being conducted by the Federal Trade Commission (FTC).
FTC’s Investigation
The FTC’s competition probe claims details on filing of all acquisitions that involve more than $68.2 million. The FTC’s probe may take another six to 12 months to sanction the Facebook’s acquisition of Instagram. However, earlier Facebook announces in its IPO filing that its Instagram purchase would close by second quarter. So, when can we expect to finalize the acquisition of Facebook’s acquisition of Instagram?
Despite FTC’s customary probe on its Instagram purchase, Facebook has announced its recent purchase of another photo sharing app Lightbox today.
