Arrow Electronics wins EU okay for Altimate buy
BRUSSELS, June 26 |
BRUSSELS, June 26 (Reuters) - U.S. technology distributor Arrow Electronics secured EU regulatory clearance on Tuesday to buy French-based computing product distributor Altimate for 48.1 million euros ($60 million).
Altimate is a unit of Irish business services group DCC Plc .
The European Commission, the EU competition watchdog, said the two firms are both active in wholesale markets for distributing computer and IT products and that regulators had looked in particular into distribution of data storage products in Spain and Portugal.
"The Commission's investigation found that the merged entity would continue to face substantial competition from several well-established, strong and effective competitors in the markets concerned," it said in a statement.
It said characteristics of the market in question also made for "substantial intra-brand and inter-brand competition in the markets as well as the presence of customers with sufficient market knowledge to be able to switch between distributors with minimal costs".
($1 = 0.8013 euros) (Reporting by Foo Yun Chee; editing by Rex Merrifield)
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