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The purchase of the Waikato River jump by Queenstown Bungy was signed off by the Commerce Commission yesterday.
Queenstown Bungy is a wholly owned subsidiary of AJ Hackett Bungy, which already operates five sites across Queenstown and Auckland.
Commission chairwoman Anna Rawlings said it was satisfied that the acquisition was unlikely to lessen competition in any New Zealand market.
"We consider that while the merging parties both run bungy jump operations, they are not close competitors, as they operate in different regions."
Taupo Bungy, which is a wholly owned subsidiary of Taupo Tourism Holdings Ltd, operates a bungy, swing and associated business in Taupo.
AJ Hackett Bungy New Zealand co-founder and managing director Henry van Asch said the clearance was a significant step forward in the company's acquisition plans.
While not providing any other details of the purchase, he said the company was looking forward to working through the final steps of the purchase process.