Windsor Drake
Transaction · Financial Data / Open Banking · 2020

NEC / Avaloq 2020

NEC Corporation acquired Avaloq for $2.2B on October 6, 2020.

Target
Avaloq
Acquirer
NEC Corporation
Deal value
$2.2B
Announced
October 6, 2020
Sub-sector
Financial Data / Open Banking

Transaction overview

  • NEC Corporation announced the acquisition of Avaloq on October 6, 2020 for $2.2B.

Strategic rationale

NEC acquires financial software and domain expertise to enter digital finance globally and leverage Avaloq's open banking capabilities combined with NEC's biometrics and AI technologies.

Deal terms & multiples

Deal value
$2.2B
Target revenue
$660M
Target EBITDA
Not disclosed
EV / Revenue
3.4x
EV / EBITDA
Not disclosed
Announcement
October 6, 2020
Acquirer
NEC Corporation (Strategic)
Sub-sector
Financial Data / Open Banking

Sources

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