STOCKHOLM, July 22, 2019 /PRNewswire/ -- Tobii AB (publ) today announces that the UK Competition and Markets Authority CMA, has announced that it postpones its final conclusion in the investigation of the acquisition of Smartbox Assistive Technology Ltd by Tobii AB by up to eight weeks.

CMA's final conclusion was expected to be announced by July 25 but has now been extended with up to eight weeks meaning the reference period will be extend to September 19, 2019. Tobii continues to work closely with the CMA in the final stages of the investigation.

Background 
On October 1, 2018 Tobii AB acquired Smartbox Assistive Technology Ltd, a UK based company operating in the field of assistive technology for communication. Smartbox employs some 70 people. Net sales in 2017 were GBP 9,3 million, corresponding to approximately SEK 110 Million.

Upon the announcement of the acquisition, the CMA opened an investigation, expressing concerns that Tobii's acquisition of Smartbox may lead to less choice, lack of innovation and higher prices for people with speech and language disabilities in the UK. Tobii strongly disagrees with these concerns and has since worked closely with the CMA during the investigation process. The two companies' brands and operations have been held separate, pending completion of the review.

This information is information that Tobii AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 22 July 2019, at 2:45 p.m. CEST.

CONTACT:

Nils Lindhe, VP Corporate Communications, phone: +46-768-94-84-84, email: nils.lindhe@tobii.com 

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https://news.cision.com/tobii-ab/r/cma-postpones-its-final-conclusion-on-tobii-s-acquisition-of-smartbox,c2867494

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