BankingBusiness

Avaloq: Acquisition by NEC successfully completed

  • Avaloq, a Swiss-based global leader in digital banking solutions and wealth management technology
  • Japan-based NEC Corporation announced the closing of NEC’s acquisition of Avaloq
  • This acquisition was first announced in October 2020, and following receipt of the relevant regulatory approvals
  • NEC now holds 100% of Avaloq’s shares, including the 45% previously held by private equity firm Warburg Pincus
  • Avaloq provides powerful cloud solutions for banks and wealth managers around the globe through BPaaS
  • Through the acquisition of Avaloq, NEC acquires domain knowledge in the digital finance field and enters this segment globally
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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