OFT probes IRESS-Avelo deal

The competition authority issued an 'invitation to comment' today seeking representations on whether the deal, announced in August this year, would "result in a substantial lessening of competition" in the sector, which comprises activities auxiliary to financial services, except insurance and pension funding. IRESS acquired Avelo in September for £210m, saying the deal marked its strategy of further developing and consolidating its foothold in the UK after entering the market in November 2011. At the end of October IRESS announced that it would bring Avelo under its own brand from 1 ...