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NEC Buys Danish IT Company KMD From Advent Int'l For About DKK 8 Bln

NEC Corp. (NIPNF.PK) said that it has acquired Danish IT company KMD Holding ApS from private equity investor Advent International for about 8 billion Danish Kroner. The acquisition is expected to be completed by the end of February 2019.

NEC said it is expanding its business domain through the utilization of its advanced biometrics and artificial intelligence (AI) technologies to develop areas that include public safety, digital government and smart transportation. These initiatives are being implemented under the "NEC Safer Cities" program, which supports the realization of safe, secure, efficient and equal cities.

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