CMA publishes statement of issues over Xchanging acquisition of Agencyport
The CMA has published an issues statement following its referral of the completed acquisition by Xchanging plc of certain companies comprising all of the European operations of Agencyport Software Group (Agencyport) for a full phase 2 investigation on 8 December 2014.
The inquiry group of CMA panel members must decide whether a relevant merger situation has been created and, if so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the UK for goods or services. The inquiry group must report by 24 May.
Xchanging Holdings Limited and Xchanging, Inc. (Xchanging) and Agencyport supply specialist software to the insurance market, in particular insurers and reinsurers and Lloyd’s of London (Lloyd’s) registered managing agents.
The issues statement identifies clearly for all interested parties the key questions which the inquiry is examining. The issues statement does not imply that the inquiry group has yet identified any competition concerns. The full issues statement is available on the investigation case page along with all other published information relating to the investigation.
The phase 1 decision report, which provides some background on Xchanging and Agencyport, the industry in which they operate and the reasons for the merger reference, has also been published.
Anyone wishing to respond to the issues statement should do so in writing, by no later than 5pm on 28 January, to Xchanging.Agencyport@cma.gsi.gov.uk or write to:
Project Manager
Xchanging/Agencyport merger inquiry
Competition and Markets Authority
Victoria House
Southampton Row
London
WC1B 4AD