United Kingdom: CMA issues ruling in Investigation into Dye & Durham's Acquisition of TM Group

On 3 August 2022, the UK Competition and Markets Authority (CMA) issued a ruling in its investigation into the acquisition by Dye & Durham, a cloud-based software provider, of TM Group. The CMA found that the acquisition resulted in a substantial lessening of competition in the supply of property search services, as the combined business would be the largest in the national market with only two substantial national rivals. Furthermore, the CMA noted that competition could be reduced, which could lead to higher prices and lower quality services. As a result, the CMA ordered Dye & Durham to sell TM Group to a suitable buyer.