The competition watchdog has closed its case on a merger in the property searches data market after approving the disposal by Canada-based software giant Dye & Durham of a specialist UK company.
In a case closure summary posted today, the Competition and Markets Authority said that the purchase of TM Group Limited by a newly incorporated company Aurelius IV UK Acquico Six Limited brought its investigation to an end.
The watchdog intervened following the 2021 acquisition of TM by Dye & Durham. In August last year it ordered the sale of the business, saying the merger 'substantially lessens competition in the supply of property search services in England and Wales'.
Last month, the Competition Appeal Tribunal dismissed an appeal by Dye & Durham over conditions for the sale. Its chosen purchaser, Aurelius IV UK Acquico Six Limited, was incorporated in August last year.
In its statement today, the CMA says: 'The purchase of TMG by Aurelius IV UK Acquico Six Limited (Aurelius) from D&D in accordance with the final undertakings was approved by the CMA and completed on 3 August 2023. This brings the merger investigation to a close.'