OFT clears GB Group deal
THE Office of Fair Trading (OFT) has cleared Chester-based GB Group’s £11m acquisition of London-based competitor Capscan.
The deal, which was announced last month, brings together the second- and third-biggest players in the identity management market. Capscan employs 54 people in London and Manchester, and had adjusted earnings of £1.2m on sales of £6.8m in the year to March.
GB Group recently announced a 7% increase in sales for the six months to September to £12.4m.
The OFT had announced that it would assess the deal earlier this month to assess whether it would lead to a reduction in competition within the market.
However, in a brief statement this morning the watchdog said it “has decided, on the information currently available to it, that a relevant merger situation has not been created”.
