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NEC buys British IT firm for £475 mil.

Jiji Press TOKYO (Jiji Press) — NEC Corp. said Tuesday that it has acquired British information technology company Northgate Public Services Ltd. from a private equity fund for £475 million ($642 million).

The major electronics maker plans to utilize the customer base of Northgate Public Services, which deals with business systems and other products for the British police, to link it to the overseas expansion of security-related businesses, which NEC regards as a growth field.

The acquisition will be completed by the end of January this year.

NEC hopes to provide services that will detect suspicious individuals and prevent fraudulent receipt of pensions by combining technologies of the two companies.

“We hope to expand our operations to Australia and Singapore,” NEC President Takashi Niino, said at a press conference.

The British IT firm posted sales of £163.5 million in the business year that ended in April 2017.Speech

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