The CMA has today accepted undertakings in lieu of a reference in relation to the acquisition by GTCR Canyon UK Investments Ltd of Gorkana.
On 14 April, the Competition and Markets Authority (CMA) announced it would consider in detail an undertaking proposed by GTCR Canyon UK Investments Ltd (GTCR) instead of referring the case for an in-depth phase 2 merger investigation.
GTCR has offered to sell its Cision UK Limited (Cision) and Vocus UK Limited (Vocus) businesses to AIMediadata Limited (a subsidiary of Access Intelligence plc) to remedy the competition concerns identified by the CMA during its phase 1 investigation. As a result of the CMA’s acceptance of these undertakings, GTCR’s purchase will not be referred for an in-depth phase 2 investigation.
Before accepting the undertakings, the CMA carefully assessed and consulted publicly on the proposed undertakings, including on the suitability of Access Intelligence plc as a proposed purchaser. No concerns were raised during the consultation. The CMA is satisfied that the undertakings will resolve the competition concerns identified and that Access Intelligence plc as the agreed purchaser will operate the Cision and Vocus businesses in competition with GTCR’s retained Gorkana Group Limited (Gorkana) business.
The undertakings and all other information relating to this investigation can be found on the case page.