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CMA loosens enforcement order as it continues to review ZPG acquisition of Expert Agent

RES TECH NS B

As the Competition and Markets Authority continues to review the completed acquisition by ZPG of Websky, which operates the IT software business Expert Agent, it has relaxed some of its initial enforcement order.

However, in a new note on its website, specific reference is made to the possibility of Websky being sold to new purchasers after its review.

Under the order, the CMA is requiring ZPG to “hold separate” its business from that of Websky. This is still the case.

However, the CMA has now relaxed, or made derogations from, the order.

It is now allowing ZPG to deliver payroll, human resources and accounting services to Websky, so that the latter “can continue to operate”.

It means that Websky is now allowed to liaise with seven specified job-holders at ZPG, including financial and HR staff.

Each of the individuals will have to sign a non-disclosure agreement before being allowed to receive any information, and the non-disclosure agreement must be approved by the CMA.

The CMA has also consented to ZPG changing the registered office for Websky to its own address; to change the accounting date for Websky from December 31 to September 30; and to change the Websky auditors to Deloitte.

The CMA says it gives consent to these changes “on the basis that they will not impact the independent competitive conduct of the Wesky Limited business and the changes that can be easily unwound in the event that there is any new purchaser of the Websky Limited business subsequent to the CMA’s review”.

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Source:: CMA loosens enforcement order as it continues to review ZPG acquisition of Expert Agent