GB Group £11m deal cleared
Chester identity management specialist GB Group's £11.2m takeover of London-based Capscan has been cleared by the Office of Fair Trading (OFT).
The regulator will not refer the deal to the Competition Commission.
GB Group revealed it had bought Capscan in November. The deal is the company's second this year and adds 54 staff and approximately 1,800 customers to its ranks.
Speaking at the time, Richard Law, chief executive of GB Group, said: "Capscan is an excellent business and this acquisition brings together the number two and number three operators in this important and growing market of customer registration."
GB Group posted a 7 per cent increase in revenues to £12.4m for the six months to 30 September 2011, while profits before exceptional items, interest, share-based payments and tax grew by 36 per cent to £1m.
