Tobii AB (publ) today comments on the latest events regarding the Smartbox acquisition. The UK Competition Appeal Tribunal (CAT) today dismissed Tobii’s appeal concerning the required divestiture of Smartbox. In parallel to the appeals process, Tobii has maintained an ongoing divestiture process in line with the British Competition and Market Authority’s (CMA) initial decision.
CAT's decision means that Tobii's appeal regarding CMA's previous decision is rejected, and that Tobii shall reimburse some of CMA's process related costs, less than SEK 3 million.
“Tobii will now review the judgement and consider next steps. We will also continue with the divestment of Smartbox.”, says Henrik Eskilsson, CEO, Tobii Group.
In October 2018 Tobii AB (publ) acquired Smartbox Assistive Technology Ltd, a UK based company operating in the field of assistive technology for communication.
Upon the announcement of the acquisition, the CMA opened an investigation under UK competition law. The two companies’ brands and operations have been held separate, pending the completion of the CMA’s review.
The CMA announced the final conclusions of its investigation on August 15 and required a full divestiture of Smartbox by Tobii. Tobii appealed the decision to the CAT.
Tobii is the global leader in eye tracking. Our vision is a world where all technology works in harmony with natural human behavior. Tobii operates through three business units: Tobii Dynavox makes specially designed computers that are controlled by eye movement or touch screens for use by people with special needs due to spinal cord injuries, CP, ALS or other medical conditions. Tobii Pro develops and sells eye-tracking equipment and services used today by more than 3,500 companies and 2,500 research institutions, including all of the world’s 50 highest ranked universities. Tobii Tech further develops Tobii’s technology for new volume markets, such as computer games, personal computers, virtual reality, augmented reality and smartphones. Tobii is headquartered in Sweden and is listed on Nasdaq Stockholm (TOBII). The group has about 1,000 employees. For more information, please visit www.tobii.com.