On 12 March 2025, the European Commission unconditionally cleared Advanced Micro Devices’ (AMD)’ acquisition of ZT Systems in Phase I.

AMD is a key player active in the development of computer processors and related technologies, including graphics processing units (GPUs) and central processing units (CPUs). ZT Systems is a designer, manufacturer, and supplier of server and storage solutions for data centres.

The Commission’s Phase I review assessed potential vertical and horizontal overlaps between AMD’s semiconductor activities and ZT’s data centre infrastructure business, concluding that the transaction would not raise competition concerns in the EEA.

Oxera’s team, led by Giuseppe Buglionesupported AMD in its merger control filings before the Commission and in multiple other jurisdictions. The Oxera team included Lirio Barros, Raphaël Gastal, and Emiel Awad.