Meta Platforms Inc. is in $60 million deal to acquire the trademark rights of the U.S. regional bank, Meta Financial Group. Meta Platforms Inc. is the owner of the social media network, Facebook.
The deal shows how valuable the Meta name is for company, who is betting that its focus on the metaverse will pay off very well in the coming years. In a regulatory filing on December 13 th , Meta
Financial said a Delaware company called Beige Key LLC had agreed to acquire the worldwide rights to the “Meta” name for $60 million in cash. A Meta Platforms spokesperson said the company had engaged in discussions with Meta Financial prior to the social media giant’s name change announcement. As a result of the filing, Meta Financial’s shares were trading 1.5% lower on Monday and
Meta Platforms was up 1.6%.
Please click here to read more of this article from Reuters, written by David French and Elizabeth
Source: Reuters – David French and Elizabeth Culliford, December 13, 2021
ARTICLE LINK: Exclusive: Facebook owner is behind $60 mln deal for Meta name rights | Reuters