Canada Watchdog Challenges PE Firm's Software Maker Buy
Law360 (June 17, 2019, 5:16 PM EDT) -- Canada’s competition enforcer said Monday it is challenging private equity firm Thoma Bravo’s recent acquisition of oil and gas software provider Aucerna over concerns about its ownership of a competing company.
Canada’s Competition Bureau has filed an application with the Competition Tribunal seeking to force Thoma Bravo LLC to sell one of two software products used by medium and large producers to manage oil and gas reserves. The firm already owned Aucerna’s closest rival, Quorum, when it cut the deal in February, and Matthew Boswell, commissioner of competition, said the move could hurt competition in an important industry.
“Taking action in...
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