Cisco Systems’s purchase of Acacia Communications has been approved by China’s antitrust regulator on condition that the companies ensure fair competition, reported Reuters.
The State Administration for Market Regulation’s (SAMR) green light brings the US$4.5 billion dollar deal to a close after approval from other countries including the United States.
Network gear maker Cisco first announced its intention to acquire optical components manufacturer Acacia in 2019, looking to capture more business from telecom companies.
SAMR on Tuesday, January 19, announced that the Acacia acquisition can proceed provided the companies continue to service existing contracts in China and continue to supply customers in China “in accordance with the principles of fairness, reasonableness and non-discrimination.”
One of China’s top market regulators, SAMR has authority akin to the European Commission to approve acquisitions involving multinational corporations.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI