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Global Payments abandons acquisition of Australia's School Bytes, following regulatory concerns

( June 3, 2024, 03:17 GMT | Official Statement) -- MLex Summary: Global Payments’ play for Australian-based school-administration software company School Bytes has been abandoned. In an entry on its website, the Australian Competition & Consumer Commission said that it had discontinued its review, after Global Payments advised it that the proposed acquisition wouldn’t proceed. The collapse of the deal comes weeks after the Australian regulator warned that the transaction could substantially lessen competition in the supply of school-information software and student-finance software in certain public schools.The entry in the Australian Competition & Consumer Commission's deal webpage follows: ...

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