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Business deals

NEC buys Danish IT leader to bolster e-government business

Japanese company taps KMD's experience in servicing European public sector

NEC President and CEO Takashi Niino attends a news conference Thursday on his company's planned acquisition of Danish IT company KMD. (Photo by Kei Higuchi)

TOKYO -- Electronics maker NEC will acquire KMD Holding, Denmark's largest information technology business, as the Japanese company aims to tap growing public-sector demand for digital services.

NEC will buy the company from U.S.-based private equity firm Advent International for about 8 billion Danish kroner ($1.22 billion), the Japanese company said Thursday. The deal, NEC's second-biggest acquisition ever, is expected to be completed at the end of February.

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