Cabcharge acquisition of MTI gets ACCC nod of approval

Company News

by Anna Napoli

The ACCC has given the green light to the proposed $6.6 million acquisition of Mobile Technologies International (MTI) by Cabcharge (ASX:CAB).

The competition regulator found that it was unlikely that the acquisition would result in Cabcharge supplying inferior dispatch systems or withholding technology features from rival networks.

MTI is the most widely used provider of taxi dispatch systems to taxi networks in Australia.

Cabcharge says the deal provides an opportunity to expand its customer reach and increases its ability to compete with other fully integrated personal transport companies.

Shares in Cabcharge (ASX:CAB) are trading 1.35 per cent higher to $2.25.