The Commerce Commission has received an application from Cadmus Technology Limited and Provenco Group Limited seeking clearance for a merger transaction through which Cadmus and Provenco will amalgamate pursuant to Part XIII of the Companies Act 1993.
Cadmus is listed on the New Zealand Stock Exchange. It designs, develops and implements electronic point-of-sale payment solutions for merchant businesses in New Zealand and overseas.
Provenco is listed on the New Zealand Stock Exchange. It is a supplier of technology to businesses in New Zealand and overseas, which focuses on electronic fund transfer at point of sale (EFTPOS) and payment solutions and is now extending across a range of technology applications for the retail environment.
In considering the application, the Commission's role is to determine whether the acquisition has the effect of substantially lessening competition in a market.
