Briefing

Competition Bureau forces sale of oil and gas software company over monopoly concerns

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Thoma Bravo, a San Francisco-based private equity firm, agreed to sell its Mosaic software business, according to a Competition Bureau announcement. A few hours later, Thoma Bravo announced it had purchased OGsys, which provides oil and gas accounting software. (The Logic)

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Talking point: For the Competition Bureau, divesting Mosaic is precisely what it asked for. In June, the bureau asked Thoma Bravo to sell either Mosaic or Aucerna, arguing that its recent purchase of the latter gave it a monopoly in the valuation and reporting software business for the oil and gas reserves sector. The Thoma Bravo enforcement may be the first of many to come. In July, the bureau hired its first-ever chief digital enforcement officer and promised to focus more on digital competition issues over the next four years. For Thoma Bravo, picking up OGsys allows it to sell another service to existing oil and gas clients of Aucerna. That will give it a competitive advantage over its newly divested MOSAIC, which offers a similar service to Aucerna.