Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Japan’s NEC to buy Danish IT firm KMD for billions

Share this article

Japan’s NEC to buy Danish IT firm KMD for billions
File photo: Liselotte Sabroe/Ritzau Scanpix
12:23 CET+01:00
Japanese multinational NEC said Thursday that it would buy Denmark's largest IT firm KMD for $1.2 billion as part of its effort to expand its European and global businesses.

Under the plan, the information technology giant will buy all shares of KMD Holding ApS for 8 billion kroner by the end of February next year, NEC said in a statement.

"Through this acquisition, NEC will acquire a business model that leverages platforms in the digital government domain as it aims to expand business from northern Europe to the whole of Europe and globally," it said.

The acquisition will be finalised after NEC completes the necessary procedures, including getting the approval of the European Commission.

READ ALSO: Norway to sell remaining SAS airline stake

Get notified about breaking news on The Local

Share this article

From our sponsors

‘No other place in Europe has such as high density of talent’

London has always had a certain allure that pulls in entrepreneurs from near and far. As one of the world’s most connected cities, a top financial centre and a multicultural melting pot, countless professionals from Europe and beyond are drawn to London like moths to a flame.