British Competition Authority CMA Intends to Continue its Investigation of Tobii's Acquisition of Smartbox
STOCKHOLM, Jan. 25, 2019 /PRNewswire/ -- The British competition and markets authority, CMA, today announced its intent to refer Tobii's acquisition of Smartbox for a Phase 2 investigation.
The acquisition of Smartbox Assistive Technology Ltd. was closed on October 1, 2018 with the plan to integrate Smartbox into the Tobii Dynavox business unit. When the two companies join forces, they are together able to increase the rate of innovation and provide a broader range of products to benefit users with disabilities, both globally and in the UK.
The CMA has expressed concerns that Tobii's acquisition of Smartbox may lead to less choice, lack of innovation and higher prices for people with speech and language needs in the UK. Tobii continues to work cooperatively with the CMA during the onward process. Tobii and Smartbox brands and operations will continue to be held separate as agreed with the CMA, pending completion of the review.
"Tobii Dynavox's ambition is to increase its innovation and empower more people to communicate and to realize their dreams and potential, regardless of disabilities or impairments. We are convinced that this merger is a positive thing for the many in need for assistive technology for communication," said Fredrik Ruben.
This information is information that Tobii AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on January 25, 2019, at 09:00 a.m. CET.
Contact
Sara Hyléen, VP of Corporate Communications & Investor Relations, Tobii AB, phone: +46-709-16-16-41, email: sara.hyleen@tobii.com
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CMA Intends to Continue its Investigation of Tobii’s Acquisition of Smartbox - press release - 25 Jan 2019 |
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