Seagate Technology granted clearance to acquire the hard disk drive business of Samsung Electronics

The Commerce Commission has granted clearance for Seagate Technology Plc to acquire certain assets of the hard disk drive business of Samsung Electronics Co. Limited.

Commerce Commission Chair Dr Mark Berry said the Commission was satisfied that the proposed acquisition will not be likely to substantially lessen competition in markets for hard disk drives in New Zealand.

The Commission considers that there will be sufficient competition from existing participants in these markets to prevent the Seagate/Samsung entity from exercising any market power.

A public version of the written reasons for the decision will be available shortly on the Commission’s website at: www.comcom.govt.nz/clearances-register