CELEX: 32019M9442
Language: en
Date: 2019-07-26 00:00:00
Title: Commission Decision of 26/07/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9442 - Elliott Management Corporation / Insight Venture Management, LCC / WorkForce Software, LLC) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 26.7.2019
                                                                C(2019) 5795 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9442 - ELLIOTT / INSIGHT / WORKFORCE
                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 3 July 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Elliott Associates, L.P., Elliott International L.P. and Evergreen Coast
        Capital Corp., controlled by Elliott Management Corporation (together “Elliott
        Group”, U.S.) and Insight Venture Management, LLC (“Insight Group”, U.S.),
        acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint
        control over the whole of the undertaking WorkForce Software, LLC (“WorkForce”,
        U.S.) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Elliot Group: global investment firm focussed on investment and risk
              management activities,
             for Insight Group: global venture capital and private equity firm investing in
              highgrowth technology and software companies,
             for WorkForce: provider of cloud workforce management solutions to enterprise
              and mid-sized organizations.
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 232, 10.07.2019, p. 10.
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--- 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
   paragraph 5(a) 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)
                                                  Johannes LAITENBERGER
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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