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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  NEC Corporation    6701   JP3733000008

NEC CORPORATION

(6701)
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Japan's NEC considers buying Civica for $1.2 billion - Sky News

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07/13/2017 | 11:32pm EDT
Logo of NEC Corp is pictured at CEATEC JAPAN 2016 in Chiba

(Reuters) - Japanese information technology company NEC Corp is looking at buying British software firm Civica for 900 million pounds and has hired advisors to work on an offer, Sky News reported.

An auction for Civica, one of the UK's biggest public sector software providers, began several weeks ago and has drawn initial offers from three private equity firms - London-based BC Partners, Berkshire Partners and the Swiss-based Partners Group, Sky News said, citing an industry source.

A spokesman for NEC said the company is "always considering a wide range of business possibilities, but that nothing has been decided at this time."

Representatives for Civica were not immediately available for comment outside regular business hours.

OMERS Private Equity acquired Civica from 3i in 2013 for 390 million pounds, according to Thomson Reuters LPC data.

Civica provides outsourcing services to government organisations and local authorities around the world, from running most of the UK police force's automatic number plate recognition system to Singapore's public library management system.

NEC provides a broad range of systems and software services for both the public and private sector. Recent contracts include the provision of its facial recognition system to the UK's South Wales Police force and one to integrate internal systems for the city of Lisbon.

The Japanese firm sold most of its stake in its PC joint venture with Lenovo Group last year, a part of a broader trend of Japanese companies shedding struggling hardware businesses.

NEC shares were flat in morning trade in Tokyo, compared with a 0.1 percent rise in the benchmark Nikkei share price index.

(Reporting by Mekhla Raina in Bengaluru and Sam Nussey in Tokyo; Editing by Edmund Blair and Edwina Gibbs)

Stocks treated in this article : Partners Group Holding AG, NEC Corp
Stocks mentioned in the article
ChangeLast1st jan.
LINE CORPORATION -0.18% 5410 End-of-day quote.1.12%
NEC CORPORATION 1.68% 5450 End-of-day quote.20.58%
NIKKEI 225 1.78% 23249.61 Real-time Quote.-3.44%
ONE STOP SYSTEMS, INC. 0.43% 2.31 Delayed Quote.13.86%
PARTNERS GROUP HOLDING AG 0.00% 909.4 Delayed Quote.2.48%
RISE, INC. -3.45% 28 End-of-day quote.-6.67%
SWISS RE LTD -0.78% 73.56 Delayed Quote.-31.79%
WORLD CO., LTD. 1.55% 1571 End-of-day quote.-41.62%
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Financials
Sales 2021 2 993 B 27 986 M 27 986 M
Net income 2021 84 894 M 794 M 794 M
Net cash 2021 10 054 M 94,0 M 94,0 M
P/E ratio 2021 16,8x
Yield 2021 1,48%
Capitalization 1 482 B 13 866 M 13 860 M
EV / Sales 2021 0,49x
EV / Sales 2022 0,45x
Nbr of Employees 110 595
Free-Float 94,9%
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Technical analysis trends NEC CORPORATION
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 5 793,64 JPY
Last Close Price 5 450,00 JPY
Spread / Highest target 52,3%
Spread / Average Target 6,31%
Spread / Lowest Target -22,4%
EPS Revisions
Managers
NameTitle
Takashi Niino Executive President, CEO & Representative Director
Nobuhiro Endo Non-Executive Chairman
Takayuki Morita CFO, Representative Director & Executive VP
Motoo Nishihara Director & Chief Technology Officer
Hiroshi Kodama Chief Information Officer
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