KKR Associates/Siemens Nixdorf Retail and Banking Systems - Banking systems
Background
Acquisition by KKR of sole control of the whole of the German undertaking Siemens Nixdorf Retail and Banking Systems. KKR is making equity investments on behalf of itself or its investors either to controlling ownership or strategic minority positions. Most of the investments are companies in the US. Siemens Nixdorf Retail and Banking Systems (SNRBS) has activities in the retail and banking systems.
Assessment
The Commission considered that the operation involved the retail and banking systems businesses including with its hardware and software-related services. As regards the geographical scope, the notifying party refers to a previous Commission’s decision (AT&T/NCR) in which the Commission defines the market as being community-wide. Since the proposed operation has no geographic overlap between the parties in the EU, the Commission left open the geographical definition.
Neither KKR nor any other company owned or controlled by it is active in the retail and banking systems business. Therefore, the concentration does not raise any competition concerns. (Case n° COMP/M1765, Decision of 17 December 1999).
