Following the news on October 10 that the Australian Parliament introduced new legislation, the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024, ACT | The App Association issued the following statement:
“For App Association members, acquisition is often a critical path for future growth,” said Morgan Reed, President of ACT | The App Association. “While we share the goals of creating an efficient and transparent process for mergers and acquisition (M&A) review in Australia, the App Association encourages the Australian Parliament to ensure that any reforms do not unfairly increase burdens on small companies or prevent pro-competitive transactions.”
In August 2024, more than 50 App Association small business technology developer members signed an open letter to global regulators advising caution when updating existing merger rules, and to emphasize the importance that M&A has in the startup ecosystem. Building on its longstanding advocacy to Australian policymakers on competition issues, the App Association will continue to work with its members to advocate for merger policy reform that supports small company innovation and growth and will work to bring the voice of small technology developers to the table as the Australian Parliament debates this legislation.
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About ACT | The App Association & Members
The App Association is a global trade association for small and medium-sized technology companies. Our members are entrepreneurs, innovators, and independent developers within the global app ecosystem that engage with verticals across every industry. We work with and for our members to promote a policy environment that rewards and inspires innovation while providing resources that help them raise capital, create jobs, and continue to build incredible technology.