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NEC to buy Danish IT company

NEC Corp. agreed to buy KMD Holding ApS for about 8 billion Danish kroner from private equity investor Advent International Corp.

The acquisition is expected to close by the end of February 2019.

KMD Holding is the holding company of Danish information technology company KMD A/S. NEC integrates computing and network technologies in Japan and internationally.

As of Dec. 26, US$1 was equivalent to 6.55 Danish kroner.