Friends Reunited Group acquisition referred to Competition Commission

brightsolid and ITV plc will work with the Competition Commission following the OFT’s decision to refer the acquisition.

brightsolid and ITV plc today announced they will work with the Competition Commission following the decision by the Office of Fair Trading to refer brightsolid's acquisition of Friends Reunited Group from ITV plc.

On 5th August 2009, brightsolid announced that it would be acquiring Friends Reunited Group for £25 million (subject to clearance by the competition authorities). The acquisition would unite the iconic brands in Friends Reunited Group with the expertise offered by brightsolid, which focuses a key part of its strategy on linking "people and places" on the internet.

Chris van der Kuyl, CEO brightsolid, said: "We are disappointed by the decision to refer brightsolid's acquisition of Friends Reunited Group to the Competition Commission as we believe the merger will be good for competition and good for consumers. We look forward to demonstrating that this is a lively competitive marketplace with a multitude of free and paid offerings available to consumers. This acquisition presents an excellent opportunity to inject new focus into the iconic brands that form Friends Reunited Group".