Regulator to investigate FNZ’s £150m Aussie deal
FNZ: expanding through acquisition
Competition watchdogs have launched an inquiry into Edinburgh software company FNZ’s £150 million acquisition of Australian tech provider GBST.
The two businesses will remain separate while the CMA conducts its review into the tie-up between the firms.
It was unveiled in July and the supreme court of New South Wales last month gave its approval.
But the Competition and Markets Authority in the UK is concerned the deal could result in a “substantial lessening” of competition in markets in Britain.
An FNZ spokesman said FNZ will cooperate fully with the CMA to provide all the relevant information and will operate the two businesses separately pending completion of the review.
If the deal is approved by the CMA, it will bolster FNZ’s position in the UK. Earlier this year the company acquired software provider JHC Systems and German investment platform Ebase.