The acquisition of Thekkning – Tristan hf. by Wise Solutions ehf.

The Competition Authority has been reviewing the merger of Wise lausnir ehf. and Þekking – Tristan hf. Wise is an information technology services company. The company specialises in business software solutions, reselling and servicing software solutions from various suppliers, mainly Microsoft, as well as developing its own business software. 

Þekking specialises in the consultancy, operation and hosting of corporate IT systems, including operational and security services, as well as providing consultancy services. Wise Solutions Ltd. and Þekking – Tristan Ltd. both operate in the information technology market, but their operations cover different areas within that market.

The Competition Authority therefore concludes that nothing in the information or evidence currently available suggests that the merger will have a significant effect on, or substantially distort, competition. For these reasons, the Competition Authority sees no reason to take further action regarding the merger and is therefore closing the Phase I investigation.