Merger Update: Taboola/Outbrain

Merger reference decision announced:

On 26 June 2020, the CMA decided that it was or may be the case that the following Merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Anticipated acquisition by Taboola.com Ltd. of Outbrain Inc.

Pursuant to section 73A(1) of the Act, Acquirer had until 3 July 2020 to offer an undertaking to the CMA that might be accepted by the CMA under section 73(2) of the Enterprise Act 2004 (the Act). No undertakings were offered by the Parties to the CMA before the end of the five working day period specified in section 73A(1)(a) of the Act (ie by 3 July 2020).  The CMA has therefore decided to refer this Merger for a phase 2 investigation pursuant to sections 33(1) and 34ZA(2) of the Act.

The text of this decision will be placed on the Competition and Market Authority's web site at https://www.gov.uk/cma-cases as soon as is reasonably practicable.

In the event of media enquiries please email Press@cma.gov.uk or call call Press Office on 020 3738 6460.