Acquiring Company
IAA
Acquired Company
SYNETIQ
United KingdomContent And PublishingMedia And EntertainmentDescription
IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, today announced that the UK’s Competition and Markets Authority (“CMA”) has cleared IAA’s acquisition of SYNETIQ Ltd. (“SYNETIQ”), a leading integrated salvage and vehicle dismantling company in the United Kingdom, for £225 million. The businesses were previously required to be held separate under an initial enforcement order (IEO) issued by the CMA on November 5, 2021. However, the IEO was revoked by the CMA on February 10, 2022, and the announcement today paves the way for full integration of the two businesses. The CMA approved the transaction without any conditions. All regulatory approvals and consents are now secured.
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Frequently asked
Who acquired SYNETIQ?
SYNETIQ was acquired by IAA. The deal was reported on March 3, 2022. IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. IAA is privately held and operates in Content And Publishing.
When did IAA acquire SYNETIQ?
IAA's acquisition of SYNETIQ was reported on March 3, 2022. IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, today announced that the UK’s Competition and Markets Authority (“CMA”) has cleared IAA’s acquisition of SYNETIQ Ltd. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does SYNETIQ do?
Discover SYNETIQ - the UK's leading integrated salvage and vehicle recycling company. Choose sustainable solutions at affordable prices. Find out more. It is privately held, and is based in United Kingdom.
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