Feb, 28 2019 16:37 JST

Source: NEC Corporation

NEC Completes Process for Acquisition of All Shares of KMD Holding


TOKYO, Feb, 28 2019 - (JCN Newswire) - NEC Corporation (TSE:6701) has completed the process for acquiring all shares of KMD Holding ApS (KMD Holding), the holding company of KMD A/S (KMD), the largest Danish IT company, making KMD Holding an NEC subsidiary on February 21 this year.

NEC has also decided to accept an equity investment from Fund Corporation for the Overseas Development of Japan's ICT and Postal Services (JICT) for the special purpose company that NEC established in Denmark for the purpose of acquiring KMD Holding.

Specifically, NEC will transfer a portion of its shares in the special-purpose company to JICT for 1.12 billion Danish Kroner. JICT is scheduled to invest in March of this year, and will own approximately 15% of the special purpose company.

With this investment from JICT, NEC will be able to reduce acquisition costs while retaining control of KMD and to allocate funds to further growth investments. In addition, with a shareholder such as JICT, which is a public-private sector fund in which the Japanese government has a majority stake, KMD will be able to build even better relationships with government agencies, which are KMD's major clients.

NEC has positioned global safety business as a growth engine in its three-year medium-term management plan, the "Mid-term Management Plan 2020," and is promoting a shift towards service businesses that utilize horizontally deployable platforms. The acquisition of KMD Holding is part of these efforts. Going forward, NEC will continue to promote the development of its core technologies and solutions, while acquiring new customer bases, delivery resources, core technologies and business models through M&A and partnerships, in order to further expand the social solutions business, centering on the safety business, and to improve profitability.


About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. The NEC Group globally provides "Solutions for Society" that promote the safety, security efficiency and fairness 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, visit NEC at https://www.nec.com.


Contact:
NEC
Seiichiro Toda        
[email protected]
+81-3-3798-6511
Source: NEC Corporation
Sectors: Enterprise IT

Copyright ©2019 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


Monumental Sports & Entertainment, NEC Announce Partnership with Washington Wizards
October 16 2019 16:45 JST
 
NEC Announces First International Partnership with Professional Basketball Player Rui Hachimura
October 16 2019 16:33 JST
 
Ministry of Movement and NEC to Collaborate on Future of Urban Mobility
October 16 2019 14:04 JST
 
Verizon and NEC Just Made Fiber Sensing a Whole Lot Easier
October 08 2019 13:56 JST
 
Successful Outcome for NEC Corporation in United States ITC Investigation Brought by Xtera, Inc.
October 07 2019 08:08 JST
 
NEC Face Recognition Technology Ranks First in NIST Accuracy Testing
October 03 2019 18:04 JST
 
NEC Provides Energy Storage Solution to SP Group's Award-Winning Hybrid Energy Storage Pilot
September 27 2019 15:50 JST
 
NEC to Develop Energy Storage Systems with Cells from Ambri Inc.
September 24 2019 17:59 JST
 
Introducing a Next-Generation ATM with Face Recognition and QR Code Reader
September 12 2019 14:11 JST
 
UNIDO and NEC to Work Together on ICT Solutions for Inclusuve and Sustainable Industrial Development
August 27 2019 16:22 JST
 
More Press release >>

Latest Press Release


More Latest Release >>