Global information and technology services company IMS Health has announced that the company has received approval from the European Commission in connection with the pending acquisition of certain Cegedim information solutions and customer relationship management (CRM) businesses. In addition to the Commission's approval, the waiting period for the U.S. antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act (HSR) expired on December 5, 2014. Accordingly, all of the material regulatory conditions necessary for the transaction have been satisfied.
The closing for the transaction is subject to IMS Health divesting its syndicated promotional audits business in Europe. Revenue in 2013 from this business was approximately $2 million. IMS Health also agreed to continue its long-standing practice of licensing the company's standard geographic alignment for organising sales tracking data within countries with certain types of third-party vendors in Europe.
The transaction also is subject to Cegedim completing an internal reorganisation to carve out the businesses being acquired by IMS Health, as well as other customary closing conditions.
