CMA announces its provisional findings on the acquisition of Smartbox
The UK Competition and Markets Authority CMA, today issued its provisional findings in the phase 2 investigation of the acquisition of Smartbox Assistive Technology Ltd by Tobii AB. In summary the CMA continues to hold the position that the acquisition of Smartbox may be expected to result in a substantial lessening of competition in the UK.
“We have been working closely with the CMA for the past months and are looking carefully at the provisional findings. We will be responding in due course within the process and continue to collaborate closely with the CMA in their continued investigation of the acquisition” – said Fredrik Ruben, President of Tobii Dynavox.
CMA’s final conclusions are expected to be announced by the end of July.
Background
On October 1, 2018 Tobii Dynavox acquired Smartbox Assistive Technology Ltd, a UK based company operating in the field of assistive technology for communication. Smartbox employs some 70 people. Net sales in 2017 were GBP 9,3 million, corresponding to approximately SEK 110 Million.
Upon the announcement of the acquisition, the CMA opened an investigation, expressing concerns that Tobii’s acquisition of Smartbox may lead to less choice, lack of innovation and higher prices for people with speech and language disabilities in the UK. Tobii strongly disagrees with these concerns and has since worked closely with the CMA during the investigation process. The two companies’ brands and operations have been held separate, pending completion of the review.
This information is information that Tobii AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 30 May 2019, at 3:15 p.m. CEST.
Contact
Nils Lindhe, VP Corporate Communications, phone: +46 768 94 84 84, email: nils.lindhe@tobii.com
Ola Elmeland, Investor Relations, Tobii AB, phone: +46 (0) 734 409 862, e-mail: ola.elmeland@tobii.com
About Tobii
Tobii is the global leader in eye tracking. Our vision is a world where all technology works in harmony with natural human behavior. Tobii operates through three business units: Tobii Dynavox makes specially designed computers that are controlled by eye movement or touch screens for use by people with special needs due to spinal cord injuries, CP, ALS or other medical conditions. Tobii Pro develops and sells eye-tracking equipment and services used today by more than 3,500 companies and 2,500 research institutions, including all of the world’s 50 highest ranked universities. Tobii Tech further develops Tobii’s technology for new volume markets, such as computer games, personal computers, virtual reality, augmented reality and smartphones. Tobii is headquartered in Sweden and is listed on Nasdaq Stockholm (TOBII). The group has about 1,000 employees. For more information, please visit www.tobii.com.