05/18/2022

Dye & Durham Provides an Update on the CMA Review of TM Group Acquisition

Dye & Durham Limited (TSX: DND) (“Dye & Durham” or the “Company”), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today provided the following statement in response to the United Kingdom’s Competition and Markets Authority (“CMA”) Phase 2 review of Dye & Durham’s acquisition of TM Group (UK) Limited (“TMG”) (the “Transaction”):

The CMA has provisionally found that Dye & Durham’s acquisition of TMG, which closed in July 2021, would lessen competition in the UK property search services market. The CMA also asserts that the only effective way to address the issues it has identified would be for Dye & Durham to sell TMG to a third party. Lastly, the CMA press release gives the erroneous impression that Dye & Durham failed to notify the CMA regarding the transaction when in fact there was no obligation to do so under applicable UK law, which provides only for voluntary notification.

Dye & Durham disagrees with the CMA’s provisional findings and is evaluating its potential options. Dye & Durham complies with all laws and regulations in every market in which it operates. The Company has exercised every best effort to help the CMA with its review of the transaction, explain its benefits and offer a remedy proposal and is ready to continue to work collaboratively with the CMA going forward.

For the twelve months ended March 31, 2021, TMG’s Adjusted EBITDA was approximately £7.7 million.

About Dye & Durham
Dye & Durham Limited is a leading provider of cloud–based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada, the United Kingdom, Ireland and Australia, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations.

For further information: Dye & Durham Investor Relations, Ross Marshall, Phone: (416) 526-1563, E-mail: [email protected]

Go to Media

LATEST MEDIA

cybersecurity for law firms
09/30/2024
Insights

Cyber Security for Law Firms: Key Trends and Incidents Lawyers Should Know in 2024

October is Cyber Security Awareness Month, a fantastic opportunity for law firms to review and enhance their cybersecurity measures. Given the valuable and sensitive information you handle, law firms are…

Read more
09/20/2024
Insights

Cyber Security in Law Firms: Practical Ideas to Mark Cyber Security Awareness Month

October is Cyber Security Awareness Month. Themed Secure Our World, Cyber Security Awareness Month is an internationally recognised campaign to raise public awareness about the importance of cyber security. The…

Read more
08/20/2024
Press Releases

Dye & Durham moves closer to nationwide settlement offering with introduction of National Bank mortgage discharges    

TORONTO, August 20, 2024: Dye & Durham Limited (TSX: DND) (“Dye & Durham” or the “Company”), a leading provider of cloud-based, efficient workflow software for legal and business professionals, today announced that it…

Read more
06/25/2024
Insights

How to Choose the Right Client Intake and CRM Software for Your Small, Mid-Sized or Large Law Firm

This article will guide you in tailoring your CRM strategy to your firm’s size, enabling you to provide top-notch service to your clients. We cover practical CRM approaches suitable for…

Read more
Q2 2024 Canadian Pulse Report
05/30/2024
Insights, Pulse Report

Q2 2024 Canadian Pulse Report

About the Report Released quarterly, the Dye & Durham Canadian Pulse Report is designed to unveil trends and provide insights into Canadian consumer sentiment across three areas: the economy, technology,…

Read more
05/30/2024
Press Releases

One-in-Three Canadians Expect Bank of Canada to Begin Interest Rate Cuts in June

 Two-thirds say lower interest rates will have a positive impact on their financial wellbeing Nearly 40% have delayed a major purchase in the past year due to high interest rates;…

Read more
05/29/2024
News

Dye & Durham Makes Legal Information Accessible and Immediate with the Launch of DeeDee, Your Legal Information AI Assistant

First generative AI-enabled offering from Dye & Durham designed to make sourcing and understanding legal information fast and simple DeeDee makes it easy for solo, small and medium-sized law firms…

Read more
lawyer stress management
05/09/2024
Insights

High Stakes, High Stress: Is Poor Well-being an Inevitable Occupational Hazard of Legal Practice?

“When I started law school, I loved it…what I didn’t realize was the same work was also steering me onto a path of debilitating burnout.” – (McCrary, 2022)1   Stress…

Read more
04/25/2024
News

Dye & Durham and Athennian announce the upcoming launch of Unity® Entity Management

Dye & Durham and Athennian join forces to launch Unity® Entity Management Unity® Entity Management will be available to all Dye & Durham customers through the Unity® Global Platform, providing law firms…

Read more
how to choose the right legal accounting software for my law firm in Canada
04/05/2024
Insights

Choosing the Right Canadian Legal Accounting Software for Your Law Firm: Tips for Selection and Optimization

Ready to Boost Your Legal Practice? Get started with Unity® Accounting today FOR FREE and streamline your workflow with full legal accounting, with ease. 12 Months Free The Language of…

Read more
04/04/2024
Insights, Pulse Report

Q1 2024 Canadian Pulse Report

About the Report Conducted quarterly, the Dye & Durham Canadian Pulse Report is designed to uncover trends and insights into Canadian sentiment surrounding three key areas: the economy, technology, and…

Read more
04/04/2024
Press Releases, Pulse Report

Canadians Feeling Less Pessimistic About Their Financial Positions, Eagerly Eying Rate Cuts to Reenter Housing Market

Nearly two-in-five Canadians believe that Canada is currently in a recession. Despite economic uncertainty, more Canadians in Q1 2024 feel that they are in a better financial position than they…

Read more