NEC Acquires Full Ownership of Indian Software Company
- NEC Technologies India established -
Tokyo, Mar 28, 2013 - (JCN Newswire) - NEC Corporation (NEC; TSE: 6701) and
HCL Technologies Limited (HCLT) reached an agreement for NEC to obtain full
control of NEC HCL Systems Technologies (NHST), a joint venture software
company. Based on the agreement, NEC will acquire HCLT's 49% share of
NHST. As a result, NHST will become a wholly owned subsidiary of NEC. The
subsidiary's name is scheduled to become NEC Technologies India Limited in
NHST was established in October 2005 in order to enhance software developing
resources in India. Since then, the company has developed software products for
the platform business in partnership with the experience and knowledge of HCLT.
The new subsidiary will play a key role in the development and system
integration of NEC's solutions business throughout the emerging India and
Asia Pacific markets, as well as Europe and the US.
"NEC Technologies India will lead a global deployment of product
technology and development," said Takaaki Shimizu, Senior Vice President
of NEC. "The company will become an offshore software development base for
systems in Asia Pacific, Europe, the US and Japan, in addition to its current
software development for the platform business. Moreover, NEC will strengthen
its global sales and support by leveraging the new company's experience
and know-how in development, technology and business channels."
Going forward, NEC aims to continue strengthening the global competitiveness
of its products, costs, business promotions and human resources. Furthermore,
NEC will create new value for customers as an IT partner that provides
competitive products and support throughout the world.
About NEC Corporation
NEC Corporation (TSE: 6701) is a leader in the integration of IT and network
technologies that benefit businesses and people around the world. By providing
a combination of products and solutions that cross utilize the company's
experience and global resources, NEC's advanced technologies meet the
complex and ever-changing needs of its customers. NEC brings more than 100
years of expertise in technological innovation to empower people, businesses
and society. For more information, visit NEC at http://www.nec.com.
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