CELEX: 32020M10032
Language: en
Date: 2020-12-08 00:00:00
Title: Commission Decision of 08/12/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.10032 - GOLDMAN SACHS GROUP / INSIGHT VENTURE MANAGEMENT / INHABITIQ PARENT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 8.12.2020
                                                                C(2020) 8949 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.10032 – GOLDMAN SACHS GROUP / INSIGHT VENTURE
                MANAGEMENT / INHABITIQ PARENT
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 16 November 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Goldman
        Sachs Group, Inc. (‘Goldman Sachs’, United States of America) and Insight Venture
        Management, LLC (‘Insight’, United States of America), acquire within the meaning
        of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of
        InhabitIQ Parent, LLC (‘InhabitIQ’, United States of America), by way of purchase of
        shares.3
2.      The business activities of the undertakings concerned are:
              for Goldman Sachs: global investment banking, securities and investment
                 management. It provides a range of banking, securities and investment services
                 worldwide to a substantial and diversified client base,
              for Insight: global venture capital and private equity. It specializes in
                 investments in growth equity, buyout, capital for mergers and acquisitions.
                 Insight primarily invests in the technology sector, focussing on consumer-
                 facing technology, and software as a service (SaaS) based software
                 infrastructure,
              for InhabitIQ: provider of property management software solutions for
                 property managers of all sizes in the residential, vacation and commercial end
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 398, 23.11.2020, p. 20.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---            markets. The company provides a comprehensive suite of integrated software
           solutions to address all customer workflows.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraphs 5(a) and (b) of the Commission Notice on a simplified procedure for
   treatment of certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                   For the Commission
                                                   (Signed)
                                                   Olivier GUERSENT
                                                   Director-General
4  OJ C 366, 14.12.2013, p. 5.
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