1st Oct 2014 08:25
LONDON (Alliance News) - Xchanging PLC Wednesday said it has been notified that the UK Competition and Markets Authority is to conduct a review of its acquisition of Agencyport Europe Ltd to confirm that there is "no substantial lessening of competition in the market".
The acquisition of Agencyport was completed on July 4 in a deal worth GBP64.1 million.
The move was designed to bolster Xchanging's existing Xuber insurance software product range and to enable it to expand into the risk-exposure modelling and health-insurance markets.
Xchanging shares were quoted down 1.3% at 185.50 pence Wednesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
XCH.L