KMD Holding

KMD Holding is the largest Danish IT company (for the end of 2018). In its customer base there is a great number of the state clients, including government agencies. KMD offers a broad spectrum of the software and services in information technology field, including solutions SaaS.

History

2018: NEC purchased KMD for $1.2 billion

On December 27, 2018 the Japanese corporation NEC announced acquisition of KMD for 136 billion yens (about $1.2 billion for the moment of the announcement of the transaction) within the plan for expansion of business in Europe and global scale.

Thanks to this purchase of NEC receives a business model which uses platforms in the field of the digital government and which is aimed at expansion of business from Northern Europe to the whole Europe and around the world, the press release says.

NEC purchased the largest Danish IT company for $1.2 billion

NEC also say that the announced absorption became a part of the NEC Safer Cities program within which the company provides IT services which the government organizations can use for prevention of crime, control of public transport and others start of other public services.

It is going to close the transaction on sale of KMD of NEC company until the end of February, 2019. At first it is necessary to get approval from regulating authorities, including from European Commission.

As notes Reuters news agency, commenting on purchase of KMD, the NEC company tries to displace business emphases from the equipment on software and services after it could not compete with other Asian players in the markets of semiconductors, personal computers and smartphones.^[1]

The CEO of KMD EVA Berneke called the transaction with NEC "the historical moment for KMD". According to her, having become a part of NEC, the Danish company will receive "new very reliable basis for strategic development of business".

Notes