The Commerce Commission has cleared the proposed merger between Cadmus Technology Limited (Cadmus) and Provenco Group Limited (Provenco).
The Commerce Commission has cleared the proposed merger between Cadmus Technology Limited (Cadmus) and Provenco Group Limited (Provenco).
Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.
Cadmus is listed on the New Zealand Stock Exchange. It designs, develops and implements electronic fund transfer at point of sale (EFTPOS) payment solutions for merchant businesses in New Zealand and overseas. Cadmus has its own brand of EFTPOS technology.
Provenco is listed on the New Zealand Stock Exchange. It is also a supplier of EFTPOS technology to businesses in New Zealand and overseas, through its division Provenco Payments Limited. Provenco imports and distributes the Hypercom and Keycorp brands of EFTPOS technology.
A public version of the written decision will be available as soon as practicable on the Commission's website,www.comcom.govt.nz, under the Clearances Register.
