Tobii AB (publ) today comments on the latest events regarding the Smartbox
acquisition. The UK Competition Appeal Tribunal (CAT) today issued a judgement
regarding Tobii's appeal concerning the 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 has today issued a judgement finding that the CMA was only partially correct
in its decision making. CAT has asked Tobii and CMA for further submissions and
is expected to issue a final order within the coming weeks.
'Tobii will now review the judgement finding in more detail and continue the
process with the CAT and the CMA. We will also continue with the divestment of
Smartbox and adjust our course of actions depending on the progress in these
parallel tracks', said Henrik Eskilsson, CEO, Tobii Group.
Background
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 (https://www.tobii.com/group/news
-media/press-releases/2018/8/tobii-dynavox-acquires-uk-based-smartbox-assistive
-technology/), 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.
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 10
January 2020, at 5:30 p.m.CET.
Contact
Ola Elmeland, Investor Relations, phone: +46 73 440 98 62, email:
investor.relations@tobii.com
Nils Lindhe, Vice President Marketing Tobi Dynavox, phone: +46 (0) 768 948484
email: nils.lindhe @tobii.com (ben.conrad@tobii.com)
About Tobii
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: www.tobii.com.
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NASDAQ OMX Nordic - NASDAQ OMX Stockholm AB published this content on 10 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2020 16:32:00 UTC
