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UK: OFT scrutinizes software merger

By  |  November 21, 2013

The finalized buyout of Avelo by Australian-based software developer Iress is drawing recent scrutiny from the UK’s Office of Fair Trading as the regulator has planned to investigate the deal, according to reports.

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    The buyout was inked at nearly $340 million last September and included terms that would land all Avelo products under the Iress name in the following months.

    The OFT offered a statement announcing and invitation to comment on the merger and its possible effects on competition.

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