Tobii AB: CMA postpones its final conclusion on Tobiis acquisition of Smartbox
Tobii AB (publ) today announces that the UK Competition and Markets
Authority CMA, has announced
that it postpones its final conclusion in the investigation of the
acquisition of Smartbox Assistive Technology Ltd by Tobii AB by up to
CMAs final conclusion was expected to be announced by July 25 but has
now been extended with up to eight weeks meaning the reference period
will be extend to September 19, 2019. Tobii continues to work closely
with the CMA in the final stages of the investigation.
On October 1, 2018 Tobii AB 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 Tobiis
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 22 July 2019, at 2:45 p.m. CEST.
Nils Lindhe, VP Corporate Communications, phone: +46 768 94 84 84,
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
worlds 50 highest ranked universities. Tobii Tech further develops
Tobiis 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.