Australian job board SEEK Ltd (SEK: ASX), which is acquiring the entire online recruitment businesses of Malaysia-based JobStreet Corp Bhd, has given a three-year commitment to the Competition Commission of Singapore (CCS) not to enter into exclusive agreements with customers to preserve competition in the market, reports The Edge Financial Daily.

It was announced earlier this week that SEEK had reached an agreement with JobStreet on a revised purchase consideration of MYR 1.89 billion (USD 598.5 million) to acquire the company’s online recruitment businesses. The deal is targeted for completion by the end of September 2014.

Both companies notified the CCS of the proposed merger on 20 February 2014, due to the potential competition implications. SEEK plans to merge JobStreet with its other Southeast Asian job board, JobsDB, which has operations in Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

In a statement, CCS said SEEK would aim to keep barriers to entry and expansion low, and preserve competition in the market for online recruitment advertising services. In other words, SEEK will operate in Singapore utilising more than one online recruitment advertising service platform.

Additionally, SEEK will be required to maintain current pricing of its services capped at present day rate cards or current day negotiated prices, subject to Consumer Price Index variations.

The term of the commitments will be for a period of three years from the date of completion of the proposed acquisition of JobStreet’s businesses.

CCS now is seeking views from market participants to assist in its consideration of the proposed commitments by SEEK: “Following the market consultation, which shall continue until Sept 5 2014, CCS will decide on their acceptance or rejection of the proposed commitments.”