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.
- The deal is expected to close pending customary conditions.
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
Frequently asked questions
How much did NEC Corporation pay for Avaloq?
NEC Corporation acquired Avaloq for $2.2B, announced on October 6, 2020.
When did NEC Corporation announce the acquisition of Avaloq?
NEC Corporation announced the acquisition of Avaloq on October 6, 2020.
What sub-sector is Avaloq in?
Avaloq is tracked in the Financial Data / Open Banking sub-sector.
Sources
- domain-b.com /infotech/itnews/20201006_avaloq.html