Japan’s NEC considers buying British software firm Civica for $1.2b

A logo of NEC Corp is pictured at CEATEC (Combined Exhibition of Advanced Technologies) JAPAN 2016 at the Makuhari Messe in Chiba, Japan, October 3, 2016. REUTERS/Toru Hanai

Japanese information technology company NEC Corp is looking at buying British software firm Civica for 900 million pounds ($1.2 billion) and has hired advisors to work on an offer, Sky News reported.

An auction for Civica, one of the UK’s biggest public sector software providers, began several weeks ago and has drawn initial offers from three private equity firms – London-based BC Partners, Berkshire Partners and the Swiss-based Partners Group, Sky News said, citing an industry source.

A spokesman for NEC said the company is “always considering a wide range of business possibilities, but that nothing has been decided at this time.”

Representatives for Civica were not immediately available for comment outside regular business hours.

OMERS Private Equity acquired Civica from 3i in 2013 for 390 million pounds, according to Thomson Reuters LPC data.

Civica provides outsourcing services to government organisations and local authorities around the world, from running most of the UK police force’s automatic number plate recognition system to Singapore’s public library management system.

NEC provides a broad range of systems and software services for both the public and private sector. Recent contracts include the provision of its facial recognition system to the UK’s South Wales Police force and one to integrate internal systems for the city of Lisbon.

The Japanese firm sold most of its stake in its PC joint venture with Lenovo Group last year, a part of a broader trend of Japanese companies shedding struggling hardware businesses.

NEC shares were flat in morning trade in Tokyo, compared with a 0.1 percent rise in the benchmark Nikkei share price index.

Also Read:

India: Blue Box Media acquires lifestyle blog Connect Jaipur

Japan’s Daiwa Securities Group to invest nearly $6.26m in Frontiir

Squeezed at home, Japan’s Nomura seeks to push into Wall Street’s home turf

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.