Finance Breaking news NEC acquires Avaloq last financial news
Breaking-Finance.Com - Japan's NEC has acquired Swiss core banking vendor Avaloq for CHF2.05 billion.
Breaking-Finance.Com - Japan's NEC has acquired Swiss core banking vendor Avaloq for CHF2.05 billion. Avaloq, which employs more than 2000 people worldwide, claims 150 client banks and wealth managers for its core banking, BPaaS and SaaS technology package.
. “NEC will also promote global sales expansion of Avaloq's software by taking advantage of NEC Group sales channels, including KMD, a leading European software and IT services provider that NEC acquired in February 2019."The transaction - in which Warburg Pincus has a 45% interest - is expected to be completed in April 2021.
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