Japan’s NEC to buy Swiss financial software firm Avaloq for $2.2b

NEC logos are seen at the Mobile World Congress in Barcelona, Spain, February 28, 2018. REUTERS/Sergio Perez

Japan’s NEC Corp said on Monday it had agreed to buy Swiss financial software company Avaloq Group AG for 2.05 billion Swiss francs ($2.2 billion), a move that will spearhead its entry globally into digital finance software.

The deal is expected to be completed by April 2021 after necessary approvals, NEC said in a statement.

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