5 April 2017
On 4 April 2017, the Finnish Competition and Consumer Authority (FCCA) approved a corporate transaction involving the acquisition of Santa Monica Networks Oy by Elisa Corporation.
The Finnish Competition and Consumer Authority has concluded that the acquisition will not significantly impede, as referred to in the Competition Act, effective competition in the Finnish market. The market share of the parties, Elisa and Santa Monica Networks, of the hardware delivery and outsourced IT services and telecommunications services market remains small even after the acquisition.
Elisa is a telecommunications, ICT and online service company whose clientele includes consumers, companies and public administration organisations. Elisa’s core business includes mobile and landline network services.
Santa Monica Networks offers its customers outsourced IT services and related hardware deliveries and training. In addition, it provides companies with telecommunications services, that is, data security services and local area network services.
The FCCA’s decision includes business secrets of the parties involved. The decision cannot be published until the business secrets have been removed, i.e. in around two weeks’ time.
Further information: Research Officer Jenna Lampinen, tel. +358 29 505 3769, email email@example.com
According to the Competition Act, the FCCA must be notified of the transaction if the combined turnover of the parties to the corporate transaction exceeds 350 million euros and the turnover of at least two of the parties resulting from Finland exceeds 20 million euros for both. FCCA approves a corporate transaction if it has no harmful impacts referred to in the Competition Act. FCCA will intervene in corporate transactions if its investigations suggest that the acquisition may significantly impede effective competition on Finnish markets or a substantial part of the markets, particularly through the creation or reinforcement of a dominant market position.
Read more about merger control