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NEC closes acquisition of Hungarian telco Linecom

Japanese electronics giant NEC has closed the acquisition of Hungary's Linecom, which distributes and integrates NEC telecommunications equipment in the region, Linecom managing director Lajos Veres told MTI.

The company was sold by Hungarian private individuals, Veres said. The $6 million purchase price reported in the press was exaggerated, he added.

NEC and Linecom have cooperated for 15 years. NEC purchased Linecom because it wanted to “deepen” the relationship, Veres said.

Linecom has annual revenue of about Ft 1.5 billion. Its pre-tax profits are about 10% of revenue. (MTI – Econews)