Regulators have approved Channel Islands retailer Sandpiper CI’s takeover of the area’s only official Apple computer reseller.
Channel Islands Competition and Regulatory Authorities (CICRA) said Sandpiper’s deal for iQ would “not lead to a substantial lessening of competition”.
The music and computer retailer operates in both Jersey and Guernsey.
Sandpiper and iQ notified regulators of the proposed merger in August as required under Jersey and Guernsey law.
Sandpiper said the acquisition would further its strategy to grow and develop the business.
“We’re delighted with the speed CICRA processed our application to acquire this highly respected local business,” said Sandpiper CEO Tony O’Neill.
“iQ and its team have earnt a reputation for their excellent products, service and support. We’re intending to build on iQ’s success by investing in additional staff, marketing and resources, particularly around business to business areas, where we see opportunities for further growth.”
Sandpiper said no redundancies were expected following the merger.