The UK Competition and Markets Authority (CMA) published the provisional findings of its in-depth investigation into Bottomline’s purchase of Experian Payments Gateway early on Tuesday, February 18. The deal does not raise competition concerns, the in-depth CMA investigation has provisionally found.
The CMA has been investigating Bottomline Technology’s completed purchase of the Experian Payments Gateway (EPG) business from Experian Limited. Bottomline and EPG provide payments software used by businesses to submit direct debits, make payroll payments and pay suppliers. This software allows customers of Bottomline and EPG to make payments via the Bacs and Faster Payments Direct Corporate Access systems.
Following the completion of its initial Phase 1 investigation, the CMA was concerned that the merger may reduce competition and the merged company may increase prices, reduce product availability, or reduce its investment in innovation. That is why in October 2019, the CMA referred the deal for an in-depth probe.
After further in-depth analysis carried out as part of a Phase 2 investigation led by an independent group of panel members, the CMA has now provisionally found that the merger is not likely to raise competition concerns. This is largely because the CMA has found that EPG was no longer a strong force in the market and that, following the deal, there will remain enough alternative providers competing with Bottomline for customers.
Full Content: Gov UK
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.