NEC to buy KMD for $1.2 bln
Summary
NEC is acquiring KMD for approximately 8 billion Danish Kroner (DKK) from Advent International, one of the world’s largest and most experienced private equity investors.NEC is also expanding its business domain through the utilization of its advanced biometrics and artificial intelligence (AI) technologies to develop areas that include public safety, digital government and smart transportation.Specifically, KMD has a strong customer base among central and local governments and has a wide variety of software for supporting the digitization of Denmark, which is the top ranking country in the “UN E-Government Survey 2018,” announced by the United Nations Department of Economic and Social Affairs.In addition, KMD has a successful track record of executing strategic M&A which has broadened its service offering in a number of key verticals.“Denmark and the United Kingdom are considered European role models for the implementation of unified digital government measures in order to improve administrative services and reduce costs,” said Takashi Niino, President and CEO, NEC Corporation.
Classifications
AskAI Classifications
LabelsLinked Companies
