NEC acquires Hungarian engineering company Linecom
Japanese IT company NEC on Monday announced its European unit acquired Hungary’s Linecom, an engineering company that has assisted NEC for more than 15 years.
NEC formerly outsourced engineering of its PASOLINK microwave communication systems to Linecom. In addition to strengthening NEC’s PASOLINK business in Eastern Europe, the acquisition will capitalize on Linecom’s resources and know-how to enable NEC to efficiently develop strategic business in Western Europe and potentially drive new product expansion, NEC said.
NEC did not reveal the price of the acquisition, but Hungarian online business news site portfolio.hu wrote NEC paid Ft 1 billion ($6 million) for Linecom, citing the Japanese business daily Nikkei. (MTI-Econews)
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