The Competition Commission today rubber-stamped Brightsolid's acquisition of social networking pioneer Friends Reunited from broadcaster ITV.
Brightsolid, which is owned by DC Thompson, bought Friends Reunited for £25m, and intends to use its portfolio of sites to bolster its existing range of social-type brands. For example, it said Genes Reunited would complement its own geneaology web site, findmypast.co.uk.
Brightsolid chief executive Chris Van der Kuyl said, “It is fantastic news to finally get the green light from the Competition Commission for the completion of the deal.
"It has certainly been a frustrating period for all involved and meant that we were unable to take any control of the brands until this point. We’re now looking forward to working with the team at Friends Reunited Group to agreeing and implementing the new ideas to shape the direction of this exciting business.”
The Competition Commission said that it had looked closely at the case and decided that there was no reason not to approve the purchase. In fact, it added that the deal could make the geneaology market more open to consumers.
ITV paid £125m for Friends Reunited.
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