(Updates with information on the deal valuation in the second and third paragraphs.)
Meta Platforms' (META) deal to acquire AI startup Manus was valued at more than $2 billion, several news outlets reported Tuesday.
According to The Wall Street Journal, the deal is valued at $2.5 billion. The price included a $500 million retention pool for employees, a source told the news outlet.
A Meta spokesperson had earlier said the company is not disclosing the valuation at this time.
The Singapore-based AI company was valued at about $500 million in April. At the time, it was preparing to seek new financing at a $2 billion valuation before Meta stepped in, sources told The Wall Street Journal.
The acquisition will help Meta accelerate the rollout of general-purpose AI agents for consumers and businesses, according to the reports.
Meta said it plans to continue operating Manus as a standalone service while integrating its technology into products such as Instagram and WhatsApp.
Meta did not respond to MT Newswires' request for comment.
