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Electronics

NEC buys Swiss firm Avaloq for $2.2bn in global fintech push

Japanese electronics company makes biggest acquisition to date

NEC plans to plug the Swiss fintech company into its own sales channels to continue expansion in the growing sector.   © Reuters

TOKYO -- Japanese electronics giant NEC will purchase Swiss banking software developer Avaloq Group for 2.05 billion Swiss francs ($2.2 billion), the company said on Monday.

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