NEC Corporation Acquires Avaloq from Warburg Pincus
October 4, 2020
NEC Corporation agreed to acquire 100% of Swiss banking-software provider Avaloq from existing shareholders, including Warburg Pincus, in a transaction valuing Avaloq at CHF 2.05 billion. Avaloq will remain headquartered in Zurich and operate as its own entity while leveraging NEC's research and technology to accelerate innovation in digital banking, SaaS and BPaaS offerings.
- Buyers
- NEC Corporation
- Targets
- Avaloq
- Sellers
- Warburg Pincus LLC, Francisco Fernandez and Avaloq employees
- Industry
- Cloud & SaaS
- Location
- Zurich, Switzerland
- Transaction Type
- Buyout
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