EU Concentration Case M.12287 TPG Vitality Softbank Cambridge Mobile Telematics

EC Competition Cases

Published February 24th, 2026

Detected March 9th, 2026

Summary

The European Commission has published a notice regarding concentration case M.12287, involving TPG, Vitality, Softbank, and Cambridge Mobile Telematics. This case is a candidate for the simplified procedure.

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The European Commission has issued a notice concerning a potential concentration case, identified as M.12287, involving the entities TPG, Vitality, Softbank, and Cambridge Mobile Telematics. The notice indicates that this case is being considered for the simplified procedure, suggesting it may not raise significant competition concerns.

This publication serves as an informational announcement for parties involved and interested stakeholders. As it is a candidate for a simplified procedure, it implies a potentially streamlined review process. No immediate compliance actions are required based on this notice alone, but companies involved should be aware of the case and its potential progression through the Commission's merger review process.

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Prior notification of a concentration (Case M.12287 – TPG / VITALITY / SOFTBANK / CAMBRIDGE MOBILE TELEMATICS) – Candidate case for simplified procedure

PUB/2026/189

OJ C, C/2026/1162, 24.2.2026, ELI: http://data.europa.eu/eli/C/2026/1162/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

ELI: http://data.europa.eu/eli/C/2026/1162/oj

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| | Official Journal
of the European Union | EN

C series |

| | C/2026/1162 | 24.2.2026 |
Prior notification of a concentration

(Case M.12287 – TPG / VITALITY / SOFTBANK / CAMBRIDGE MOBILE TELEMATICS)

Candidate case for simplified procedure

(Text with EEA relevance)

(C/2026/1162)

On 10 February 2026, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1). This notification concerns the following undertakings:

| — | TPG Inc. (‘TPG’, the United States), |

| — | Vitality Group International, Inc. (‘Vitality’, the United States), controlled by Discovery Limited (South Africa), |

| — | SoftBank Vision Fund (AIV M2), L.P. (‘SoftBank Investor’, the United Kingdom), controlled by SoftBank Group Corp (Japan), |

| — | Cambridge Mobile Telematics Inc. (‘CMT’, the United States) controlled by SoftBank Investor and Vitality. |
TPG, Vitality and SoftBank Investor will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of CMT.

The concentration is accomplished by way of purchase of shares.

The business activities of the undertakings concerned are the following:
| — | TPG is a leading global alternative asset management firm that consists of six multi-product platforms: Capital, Growth, Impact, Real Estate, Market Solutions and TPG Angelo Gordon, |

| — | SoftBank Investor is a subsidiary of SoftBank Group Corp, a publicly traded global investor, with a varied portfolio of investments and subsidiaries focused on the technology sector, |

| — | Vitality is a global health and wellness company, |

| — | CMT provides telematic services to insurers, automakers, commercial mobility companies, and the public sector. |
3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2), it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission. Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.12287 – TPG / VITALITY / SOFTBANK / CAMBRIDGE MOBILE TELEMATICS

Observations can be sent to the Commission by email or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:

(2) OJ C 160, 5.5.2023, p. 1.

ELI: http://data.europa.eu/eli/C/2026/1162/oj

ISSN 1977-091X (electronic edition)

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