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Mergers: Commission clears acquisition of joint control over autoSense by Swisscom, AMAG and Zurich
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over autoSense AG by Swisscom Schweiz AG (“Swisscom”), AMAG Import AG (“AMAG”) and Zürich Versicherungs-Gesellschaft AG (“Zurich”), all of Switzerland.
AutoSense is a provider of products and services in the field of connected cars. Swisscom, belonging to Swisscom AG, is a telecommunications provider. AMAG, belonging to AMAG Group AG, is a car importer and dealer, active also in related services such as leasing and maintenance. Zurich, belonging to Zurich Insurance Group AG, is a diversified insurance company.
The Commission concluded that the proposed acquisition would raise no competition concerns given that autoSense has negligible actual or foreseen activities within the territory of the European Economic Area.
The transaction was examined under the simplified merger review procedure.
More information is available on the Commission's competition website, in the public case register under the case number M.9557.
(For more information: Lucía Caudet – Tel. +32 229 56182; Maria Tsoni – Tel.: +32 229 90526)