May 24, 2010

ACCC to review RP Data acquisition

SMH.com.au

RP Data Ltd has put two proposed acquisitions on hold to allow the competition regulator to review the deals.

RP Data said on Monday that the Australian Competition and Consumer Commission (ACCC) intended to review the company's acquisition of ValEx Group Pty Ltd and the valuation management software division of Sandstone Technology Pty Ltd.

"The ACCC has requested that RP Data not complete the proposed acquisitions while the ACCC is conducting its review," RP Data said in a statement.

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RP Data said it would cooperate with the ACCC and delay completion of the proposed acquisitions.

The proposed acquisitions were announced on May 11.

RP Data stock closed at 93 cents on Friday.