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  • NEC Corp will purchase fintech software provider Avaloq for $2.2 billion as it expands into financial services.
  • The deal will likely benefit both firms in terms of increased revenue gains.

The Japan-based technology giant stated that it’ll acquire Switzerland-based fintech software provider Avaloq from private equity firm Warburg Pincus and other shareholders, per Reuters.

Top global wealth managers' view on their digital transformations

NEC Corp will purchase Avaloq as it expands into financial services.

Business Insider Intelligence


NEC offers digital solutions to global clients cross-sector, including aerospace, telecoms, and finance, and plans to acquire 100% of Avaloq’s shares by April 2021. Avaloq, which offers core banking and centralized data platform solutions to its 150-plus clients, representing approximately $4.5 trillion in client assets, will continue to operate as a separate entity following the completion of the deal.

NEC has been on an acquisition spree as it seeks to maximize profits, and the latest purchase aims to expand its presence in

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September 29, 2020– Comtech Telecommunications Corp. (NASDAQ: CMTL) today announced that its Board of Directors has authorized a new $100.0 million share repurchase program pursuant to which the Company may repurchase shares of its common stock from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws.

“Authorizing the use of our strong balance sheet for share repurchases demonstrates our confidence in the underlying value of our stock and our commitment to providing long-term value for our stockholders,” commented Fred Kornberg, Chairman and Chief Executive Officer of the Company.

Any repurchased shares will be available for various corporate purposes. There can be no assurance of how many shares will be repurchased, and the repurchase program may be suspended or discontinued at any time. The actual timing, number and value of shares repurchased under the program

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