Singapore: Announced CCCS approval of acquisition of ZT Group Int’l by Advanced Micro Devices

On 6 January 2025, the Competition and Consumer Commission of Singapore (CCCS) approved the proposed acquisition of ZT Group Int’l (ZT) by Advanced Micro Devices (AMD). The investigation focused on the semiconductor and data centre industries. The CCCS noted that AMD develops semiconductor products worldwide, including processors and GPUs, while ZT specialises in the manufacture of customised server solutions for data centres. The review concluded that there are no overlaps in the products or services offered and that there are no competition concerns. In particular, CCCS analysed possible market foreclosure through tying or bundling strategies and concluded that neither AMD nor ZT are unlikely to have significant market power. Public consultations and feedback supported this assessment.