Merger Update: ION / Broadway

CMA to look at ION Investment Group Limited's undertakings offer in detail

Completed acquisition by ION Investment Group Limited of Broadway Technology Holdings LLC.

On 7 July 2020, the CMA announced that it is or may be the case that the above Merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

On 14 July 2020, ION Investment Group Limited offered undertakings to the CMA. The CMA has considered the undertakings offered and today announced that it considers that there are reasonable grounds for believing that the undertaking offered, or a modified version of it, might be accepted by the CMA to remedy the substantial lessening of competition identified by the CMA.

The CMA now has until 16 September 2020 to decide whether to accept the undertaking, with the possibility to extend this timeframe to 11 November 2020 if it considers there are special reasons for doing so.

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 practical.

In the event of media enquiries please email Press@cma.gov.uk.