New Zealand Trade Commission blocks AlphaTheta’s acquisition of Serato News ⟋ RA

Posted on July 23, 2024 by darion

Dr John Small, chairman of the committee, said the merger could lead to a “significant reduction in competition”.
New Zealand Trade Commission refuses to grant approval for AlphaTheta acquisition Serato. The government agency made announcement last Thursday, July 18, arguing that the merger could have the “effect of significantly reducing competition in the DJ software and DJ hardware markets.” AlphaTheta is the parent company of Pioneer DJ. The proposed deal was therefore abandoned. It was published later that day, joint statement AlphaTheta and Serato expressed disappointment with the commission’s decision. “We believe the proposed agreement would accelerate our combined ability to deliver incredible products to DJs and producers around the world, leveraging our complementary expertise, while also creating significant benefits for the local New Zealand music technology industry,” it said in a statement. AlphaTheta first announced its acquisition of Serato in July last year, confirming they would continue to operate as standalone brands. In May, the UK’s government watchdog, the Competition and Markets Authority (CMA), opened investigation to the deal, saying it “could significantly reduce competition in DJ software.” The investigation is Closed following the commission’s decision.

To read full text of the Trade Committee statement.

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