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

NEC CORPORATION

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NEC : unit Banqsoft acquires E Foqus financial software business

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01/07/2020 | 11:46am EST

NEC Corp. announced that Banqsoft, a Norway-based subsidiary of its Denmark-based KMD unit, has acquired part of Danish software firm E Foqus, specifically the assets and rights related to its Focus Finance business. 

E Foqus, based in Lyngby, outside of Copenhagen, specializes in software related to finance and shipping. The acquisition involves the financial software business, according to a press release.

Under the new structure, E Foqus will be split into two parts, one will be renamed Banqsoft Denmark and include operations and development of the Focus Finance brand. The second will operate independent of Banqsoft, and operate under the name EF Solutions A/S. 

"With today's acquisition, we have secured ourselves a good base for Banqsoft to continue growing across Scandinavia," Per Johanson, chairman of Banqsoft and a member of the KMD executive board, said in the release. "I will not deny that this is an offensive acquisition that we have made today. Banqsoft has an ambition to be one of the Nordic region's strongest providers of financial software and therefore by today's acquisition marks an important milestone."

Niels Ammandrup, co-founder and CEO of E Foqus, will continue as CEO of EF Solutions. 


 

Copyright © 2020 Networld Media. All rights reserved., source Industry News

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Financials (JPY)
Sales 2020 3 039 B
EBIT 2020 123 B
Net income 2020 77 822 M
Debt 2020 237 B
Yield 2020 1,57%
P/E ratio 2020 13,6x
P/E ratio 2021 11,5x
EV / Sales2020 0,42x
EV / Sales2021 0,38x
Capitalization 1 050 B
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 5 136,67  JPY
Last Close Price 4 040,00  JPY
Spread / Highest target 105%
Spread / Average Target 27,1%
Spread / Lowest Target -13,4%
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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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