Microsoft acquisition receives green light
Microsoft has won approval for its near £1bn acquisition of Danish software maker Navision from all the competition authorities, the final obstacle being removed after UK authorities OK'd the deal.
Final approval came after UK competition authorities agreed to the merger, with the software giant releasing a statement late yesterday on the Stockwise wire service.
Newcastle-based accounting software giant Sage had called for a European Commission ruling on the merger in May, saying the takeover would give Microsoft, the world’s biggest software company, an unfair advantage in Europe.
Last week, the European Commission gave Microsoft the all-clear, but revealed it would continue to monitor the giant’s activities for anti-competitive behaviour.
The EU reported it was aware of risks of anti-competitive issues, but added it would not be investigating the deal any further. Microsoft said at the time it was delighted by the decision, and expects to complete the deal before the end of the summer.