Hong Kong’s competition watchdog has raided 11 offices and homes over alleged bid-rigging for contracts to supply virtual reality (VR) systems to schools and non-profit organisations, with the deals valued at HK$10 million. The Competition Commission revealed on Friday that it had secured warrants and searched the 11 premises, including those of several IT service and equipment providers, other firms and the residences of several suspects, in an operation the day before codenamed “Lens”. The companies were accused of engaging in bid-rigging, price-fixing, market-sharing and exchange of competitively sensitive information when providing quotations for VR equipment and software installation services to various schools and non-profit organisations, the watchdog said. The contracts were valued at around HK$10 million (US$1.3 million).