Feb, 12 2018 12:05 JST

Source: NEC Corporation

NEC Increases Investment in Sub-Saharan Africa-based ICT Solutions Company XON into a Subsidiary

TOKYO, Feb, 12 2018 - (JCN Newswire) - NEC Corporation (TSE: 6701) today announced an increase in investment in XON Holdings Proprietary Limited (XON), an ICT solutions company based in the Republic of South Africa, making it a subsidiary through NEC Europe Ltd.

XON, a Systems Integrator throughout Sub-Saharan Africa established in 1996, designs, builds, operates, and manages information and communication technology (ICT) solutions created specifically for customers.

In a bid to expand its business in Africa, NEC made an investment in 2015 in XON that saw NEC take up a 25% stake in XON to unlock synergies between NEC's African operation and XON. Following the successful synergies and value created through the first transaction, NEC decided to increase its investment in XON in a second transaction that sees NEC increase its stake in the merged XON-NEC Africa business to 59.1%.

NEC expects rapid growth in its Sub-Saharan Africa business, where a huge market exists for its Safer Cities, Energy, Cybersecurity and Telecommunication solutions, amongst others. The combined XON-NEC Africa business provides NEC with the platform to capitalize on these opportunities.

NEC launched its operations in Africa in 1963 and has continued to contribute to the Continent mainly through building telecommunication and broadcasting infrastructure. In 2011, it established NEC Africa (Pty) Ltd. in South Africa, a company focused on growing NEC's business in the Sub-Saharan region.

"This increased investment in XON will see NEC and XON boost their sales within each other's customers and accelerate growth through the provision of NEC's products and technologies fit for the region. While capitalizing on the large number of advanced IT engineers employed by XON, NEC will bolster its capacity to provide integrated solutions covering consulting, systems construction and maintenance. Thereby, NEC will aim to expand its social solution business in the Sub-Saharan region and in the rest of the African region," said Hironobu Kurosaki, President and CEO, NEC Europe.

About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.

Based on its Mid-term Management Plan 2015, the NEC Group globally provides "Solutions for Society" that promote the safety, security, efficiency and equality of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, please visit http://www.nec.com/en/global/about/solutionsforsociety/message.html.

Seiichiro Toda         
[email protected] 
Source: NEC Corporation
Sectors: Enterprise IT

Copyright ©2018 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release

Etisalat Selects NEC/Netcracker's NaaS Solution to Accelerate B2B Revenue Growth
March 20 2018 12:30 JST
"NEC World Children's Nature Club" Environmental Education Program Expanded to Reach Children in 6 Regions
March 19 2018 11:57 JST
NEC Expands Services from Space
March 16 2018 16:10 JST
NEC: SJC2 Submarine Cable to Enhance Connectivity Between North and Southeast Asia
March 15 2018 10:39 JST
NEC Supplies Latest-Generation Supercomputer to Technische Universitat Kaiserslautern
March 08 2018 10:05 JST
NEC Showcases the Latest in Intelligent Public Transport Solutions at IT Trans
March 06 2018 09:32 JST
NEC Announces Organizational Changes Aimed at Achieving its Mid-term Management Plan 2020
February 28 2018 11:33 JST
NEC and KT demonstrate 5G potential in PyeongChang
February 27 2018 08:47 JST
NEC Promotes 5G with NTT DOCOMO by Testing Coordination Technology Between Cells
February 23 2018 12:59 JST
NEC Contributes to INTERPOL's Cybercrime Investigation Training
February 22 2018 16:26 JST
More Press release >>

Latest Press Release

More Latest Release >>