Apr 02, 2013
Tokyo, March 28th 2013 - NEC Corporation 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 April 2013.
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.
Re-disseminated by The Asian Banker