Dye & Durham acquisition of TM Group in U.K. draws scrutiny from regulators – Vancouver Is Awesome

TORONTO — Canadian software company Dye & Durham Ltd. says U.K. regulators are taking a closer look at its roughly $157 million acquisition of TM Group Ltd. that closed in July.

TORONTO — Canadian software company Dye & Durham Ltd. says U.K. regulators are taking a closer look at its roughly $157 million acquisition of TM Group Ltd. that closed in July.  

Dye & Durham, which is a software provider to the legal industry, says the U.K.’s Competition and Markets Authority has referred the acquisition for an in-depth Phase 2 merger investigation.

The company says the regulator chose not to accept the remedy proposal offered by the company to address concerns.  

Dye & Durham has been investing heavily in acquisitions lately, including a $3.2 billion acquisition of Link Administration Holdings Ltd. of Australia announced Wednesday. 

In announcing the Link deal, the company said it would expand its customer base in key U.K. and Australian markets. 

Earlier in December the company announced a $500 million deal to buy Telus’ financial solutions business, and in July it closed its acquisition of GlobalX Information Pty Ltd. of Australia for $159 million.

This report by The Canadian Press was first published Dec. 23, 2021.

The Canadian Press