{"id":404938,"date":"2020-12-22T23:01:06","date_gmt":"2020-12-23T04:01:06","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404938"},"modified":"2020-12-22T23:01:06","modified_gmt":"2020-12-23T04:01:06","slug":"avaloqs-acquisition-by-nec-successfully-completed","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/","title":{"rendered":"Avaloq\u2019s Acquisition by NEC Successfully Completed"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nAvaloq\u2019s Acquisition by NEC Successfully Completed\n<\/p>\n<p>ZURICH &amp; TOKYO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nAvaloq, a Swiss-based global leader in digital banking solutions and wealth management technology, and Japan-based NEC Corporation today announced the closing of NEC\u2019s acquisition of Avaloq. Each being a market leader in their own field, the combination of their shared vision, technological strengths, and global presence, will accelerate both companies\u2019 long-term growth, global expansion and value creation strategy.\n<\/p>\n<p>\nThis acquisition was first announced in October 2020, and following receipt of the relevant regulatory approvals, the acquisition was completed on December 22, 2020. NEC now holds 100% of Avaloq\u2019s shares, including the 45% previously held by private equity firm Warburg Pincus, as well as the remaining shares held by Avaloq\u2019s founder Francisco Fernandez and by employees.\n<\/p>\n<p>\nFounded in 1985, Avaloq provides powerful cloud solutions for banks and wealth managers around the globe through business process as a service (BPaaS) and software as a service (SaaS) along with on-premise solutions. Avaloq\u2019s vision for the future of wealth management is to maintain the human relationship an investor has with an advisor, to enhance the relationship through technology and to increase engagement and satisfaction. The democratization of wealth management will allow more people to have access to a greater quantity and quality of investment strategies and advice that was once reserved for ultra and high net worth individuals only.\n<\/p>\n<p>\nWith more than 120 years of expertise, NEC is a leader in the integration of IT and network technologies that benefit businesses and people around the world. Listed on the Tokyo stock exchange, NEC is a truly global organization with office locations in more than 50 countries.\n<\/p>\n<p>\nMasakazu Yamashina, Executive Vice President of NEC and new chairman of Avaloq, said: \u201cWith its 35-year heritage and focus on innovation in digital banking solutions, core banking software and wealth management technology, Avaloq is uniquely qualified to launch NEC into the Digital Finance field, which together with Digital Government, is one of the pillars for building NEC\u2019s global growth. Our joint value proposition will build on Avaloq\u2019s reliable digital finance products and the trust it has established amongst its clients, coupled with NEC\u2019s cutting-edge technologies, global business network and digital government domain knowledge.\u201d\n<\/p>\n<p>\nJurg Hunziker, CEO of Avaloq, said: \u201cAvaloq will be entering a new era together with NEC. This transaction has generated much interest and we truly believe that NEC is the best partner for our business. Our solutions will only evolve for the better when leveraging NEC\u2019s proven expertise with technologies related to Digital Identity, Artificial Intelligence, Verification, Blockchain, Cybersecurity, and Biometrics. In addition, our innovation capabilities will be elevated with NEC\u2019s strong commitment to Research &amp; Development, evidenced by the resources it has placed towards this, including dedicated facilities in Heidelberg, Germany. I am very much looking forward to starting this new part of our exciting growth journey together with NEC.\u201d\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005751r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201222005751\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201222005751\/en\/<\/a><\/span><\/p>\n<p>\nJoseph Jasper, j-jasper(at)nec.com\n<\/p>\n<p>\n\u00a0\n<\/p>\n<p><b>KEYWORDS:<\/b> Asia Pacific Switzerland Europe Germany Japan<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Technology Finance Software Banking Internet<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201222005751\/en\/668386\/3\/NEC_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Avaloq\u2019s Acquisition by NEC Successfully Completed ZURICH &amp; TOKYO&#8211;(BUSINESS WIRE)&#8211; Avaloq, a Swiss-based global leader in digital banking solutions and wealth management technology, and Japan-based NEC Corporation today announced the closing of NEC\u2019s acquisition of Avaloq. Each being a market leader in their own field, the combination of their shared vision, technological strengths, and global presence, will accelerate both companies\u2019 long-term growth, global expansion and value creation strategy. This acquisition was first announced in October 2020, and following receipt of the relevant regulatory approvals, the acquisition was completed on December 22, 2020. NEC now holds 100% of Avaloq\u2019s shares, including the 45% previously held by private equity firm Warburg Pincus, as well as the remaining shares held by Avaloq\u2019s founder &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Avaloq\u2019s Acquisition by NEC Successfully Completed&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404938","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Avaloq\u2019s Acquisition by NEC Successfully Completed - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avaloq\u2019s Acquisition by NEC Successfully Completed - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Avaloq\u2019s Acquisition by NEC Successfully Completed ZURICH &amp; TOKYO&#8211;(BUSINESS WIRE)&#8211; Avaloq, a Swiss-based global leader in digital banking solutions and wealth management technology, and Japan-based NEC Corporation today announced the closing of NEC\u2019s acquisition of Avaloq. Each being a market leader in their own field, the combination of their shared vision, technological strengths, and global presence, will accelerate both companies\u2019 long-term growth, global expansion and value creation strategy. This acquisition was first announced in October 2020, and following receipt of the relevant regulatory approvals, the acquisition was completed on December 22, 2020. NEC now holds 100% of Avaloq\u2019s shares, including the 45% previously held by private equity firm Warburg Pincus, as well as the remaining shares held by Avaloq\u2019s founder &hellip; Continue reading &quot;Avaloq\u2019s Acquisition by NEC Successfully Completed&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-23T04:01:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005751r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avaloqs-acquisition-by-nec-successfully-completed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avaloqs-acquisition-by-nec-successfully-completed\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Avaloq\u2019s Acquisition by NEC Successfully Completed\",\"datePublished\":\"2020-12-23T04:01:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avaloqs-acquisition-by-nec-successfully-completed\\\/\"},\"wordCount\":524,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avaloqs-acquisition-by-nec-successfully-completed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20201222005751r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avaloqs-acquisition-by-nec-successfully-completed\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avaloqs-acquisition-by-nec-successfully-completed\\\/\",\"name\":\"Avaloq\u2019s Acquisition by NEC Successfully Completed - 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NEC now holds 100% of Avaloq\u2019s shares, including the 45% previously held by private equity firm Warburg Pincus, as well as the remaining shares held by Avaloq\u2019s founder &hellip; Continue reading \"Avaloq\u2019s Acquisition by NEC Successfully Completed\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-23T04:01:06+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005751r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Avaloq\u2019s Acquisition by NEC Successfully Completed","datePublished":"2020-12-23T04:01:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/"},"wordCount":524,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005751r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/avaloqs-acquisition-by-nec-successfully-completed\/","name":"Avaloq\u2019s Acquisition by NEC Successfully Completed - 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