Merger of Nýherji hf. and TM Software

By letter dated 24 January, the Competition Authority was notified of the acquisition by Nýherji hf. of 771,000 shares in TM Software hf. In the opinion of the Competition Authority, the acquisition constitutes a merger within the meaning of Articles 4 and 17 of the Competition Act, and the merger is subject to the merger control of Article 17 of the Act as the turnover thresholds of the provision are met. However, the Competition Authority's investigations do not indicate that the merger will distort competition. In light of this, the Authority considers that there is no reason to take further action regarding the merger under section 17 of the Competition Act.