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OFT investigates Iress/Avelo deal

The Office of Fair Trading is considering whether the recent acquisition of Avelo  by Iress will impact on competition in the sector. 

The £210m deal was completed in September. It was announced last month that Avelo’s existing brands would be brought under the Iress name next year.

The OFT has issued an “invitation to comment” to carry out a “merger review” assess whether the deal will impact market competition.

In a statement, the OFT says: “The OFT is considering whether arrangements are in progress or in contemplation which, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom.”

Written submissions raising competition concerns about the Iress/Avelo deal need to be submitted to the OFT by 3 December.

Iress declined to comment.

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