NEC wants to buy Danish IT company KMD for more than a billion euros

Japan’s NEC plans to buy Danish IT company KMD. NEC is willing to pay eight billion Danish kroner for this, which is currently about 1.07 billion euros. KMD mainly provides IT services to governments in Denmark and other Scandinavian countries.

With the acquisition, NEC wants to gain more knowledge about IT security and governments. It expects to be able to grow in that area over the next three years. KMD provides services to many local authorities in Denmark and to a lesser extent Sweden and Norway. This also involves vital infrastructure. KMD is now owned by an American investor.

KMD says it will operate independently as a subsidiary of NEC with its 3,200 employees. Not much will change for the company’s customers, at least not in the short term. Both companies have agreed to the acquisition, but the transaction is not yet complete. The companies are waiting for approval, which means that the actual acquisition will probably take place in a few months.