The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Uplight, Inc. of the US by Octopus Energy Group Limited (‘Octopus Energy’) of the UK and Schneider Electric SE of France.
The transaction relates primarily to the supply of energy solutions software.
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. 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.12424.
