Brussels, 13 November 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Epassi Group Oy of Finland (‘Epassi’) by TA Associates Management, L.P. (‘TA Associates’) and Warburg Pincus LLC, both of the US.
The transaction relates to the provision, through mobile payment solutions, of financial services and benefits, such as gym memberships or public transportation passes, to employees.
The Commission concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area and that the companies are not active in the same or vertically related markets. The notified 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.11269.
Source – EU Commission