FTC Approves Final Order Settling Charges that Solera Holdings' 2012 Acquisition of Actual Systems Was Anticompetitive in the Market for Yard Management Systems
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Solera Holdings, Inc.'s 2012 purchase of rival Actual Systems of America, Inc. was anticompetitive.
(Media-Newswire.com) - Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Solera Holdings, Inc.’s 2012 purchase of rival Actual Systems of America, Inc. was anticompetitive. The FTC's complaint alleges that the acquisition significantly harmed competition in the concentrated market for yard management systems ( YMS ) used by automotive recycling yards. Combining the two firms eliminated direct and substantial competition between Solera and Actual Systems, and would likely result in higher prices for YMS and less innovation in the market.
Solera, through its wholly owned subsidiary Hollander, Inc., and Actual Systems were two of the three leading providers of YMS in the North American market at the time of the acquisition. The FTC settlement, first announced in July 2013, requires Solera to sell the U.S. and Canadian YMS business that it acquired from Actual Systems to ASA Holdings, Inc.
The Commission vote approving the final order and letters to members of the public who provided comments was 4-0. ( FTC File No. 121-0165; the staff contact is Scott Reiter, Bureau of Competition, 202-326-2886; see press release dated July 22, 2013 )
The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to firstname.lastname@example.org, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., N.W., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources. MEDIA CONTACT: Mitchell J. Katz Office of Public Affairs 202-326-2161
This story was released on 2013-10-26. Please make sure to visit the official company or organization web site to learn more about the original release date. See our disclaimer for additional information.