| Summary of transaction: |
PART 5
INFORMATION FOR THE CCS PUBLIC REGISTER
(TO BE COMPLETED BY THE APPLICANT(S))
1. The Applicants
Seagate Technology Public Limited Company ("Seagate") and Samsung Electronics Co., Ltd ("Samsung").
2. Description of the merger
The merger involves the proposed acquisition by Seagate of certain assets of the hard disk drive ("HDD") business of Samsung (the "Proposed Acquisition"). Seagate believes that the merger will not infringe the section 54 prohibition because it will not lead to a substantial lessening of competition within any market in Singapore.
This is because the market for the supply of HDDs is extremely competitive and is characterised by steadily and often steeply declining prices, a high degree of product innovation, short product life cycles, volatile market shares and low switching costs.
Further, it is a market characterised by significant countervailing buyer power. Additionally, Seagate believes that the Proposed Transaction will allow Seagate to continue ongoing development of its broad line of product offerings whilst realising significant efficiencies that will benefit consumers.
3. Relevant good(s) or service(s) involved
The relevant good is the HDD for sale to original equipment manufacturers ("OEMs") and original design manufacturers ("ODMs") for use in computer systems, subsystems or consumer electronic devices and for sale to OEMs, ODMs and retailers for sale for mobile, enterprise, desktop and consumer end-uses. |