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UK: OFT scrutinizes software merger

 |  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.

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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