European Commission - Daily News
Brussels, 6 June 2016
The European Commission has approved the joint acquisition of Duck Creek of the US by Apax Partners of the UK and Accenture of Ireland under the EU Merger Regulation.
Duck Creek is a global provider of software solutions for the non-life insurance sector. Apax Partners manages private equity funds in a broad range of sectors. Accenture provides services related to strategy, management, technology and IT systems.
The Commission concluded that the proposed acquisition would raise no competition concerns, because neither Accenture, nor the companies controlled by Apax Partners are active in the same market as Duck Creek or in related markets. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.8038.
(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Giulia Komel – Tel.: +32 229 61175)
Source: Europa.eu (Copyright European Commission)