The Turkish Competition Authority unconditionally approves the acquisition of sole control in the enterprise key management market and in the enterprise encryption software (Gemalto / Thales)

This case summary concerns an analysis of the Board’s Thales/Gemalto decision [1] regarding the acquisition of sole control over Gemalto N.V. (“Gemalto”) by Thales S.A. (“Thales”). The Board indicated that the aggregate market share of the parties would be relatively high in the enterprise key management market. However, upon its detailed evaluation and taking into account the specific characteristics of the relevant product market, the Board unconditionally approved the notified transaction upon concluding that the transaction would not result in the creation or strengthening of a dominant position in any product markets in Turkey, and in any case, determining that it would not have an appreciable effect or likelihood to impede competition in any product markets in Turkey. Background