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Canada: Regulator reaches agreement with Thoma Bravo on Aucerna acquisition

By  |  August 20, 2019
Today, the Competition Bureau reached an agreement with Thoma Bravo to address competition concerns related to its recent acquisition of Aucerna.Following an investigation, the Bureau found that the transaction, which closed on May 13, 2019, resulted in a merger to monopoly in the supply of oil and gas reserves valuation and reporting software to medium and large producers in Canada.

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    On June 14, 2019, the Bureau challenged the acquisition by filing an application with the Competition Tribunal. In that application, the Bureau sought an order requiring Thoma Bravo to sell either MOSAIC or Value Navigator, which are the reserves software products owned by its portfolio companies Quorum and Aucerna.

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