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CoronaQuest was developed by the canton of Vaud Canton of Vaud

The Swiss-developed CoronaQuest computer game is helping pupils in Switzerland and abroad protect themselves – and face their fears over the coronavirus.

This content was published on October 7, 2020 – 10:00

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Adds context, background

TOKYO, Oct 5 (Reuters)Japan’s NEC Corp 6701.T said on Monday it had agreed to buy Swiss financial software company Avaloq Group AG for 2.05 billion Swiss francs ($2.2 billion), a move that will spearhead its entry globally into digital finance software.

The deal is expected to be completed by April 2021 after necessary approvals, NEC said in a statement. Source text for Eikon:

Privately-held Avaloq, the top provider in Europe of financial asset management software, reported sales of 610 million Swiss francs ($664 million) last year, 70% of which came from Europe.

NEC has spent the last decade restructuring unprofitable units that lost business to price-competitive Asian rivals, selling its semiconductor, personal computer and smartphone units.

The company has since focused on providing governments and businesses with solutions services using its technologies in biometrics, healthcare, data analyses and telecommunications.

It recently received a 64.5

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NEC has agreed to acquire Avaloq in order to secure a global pathway into the digital payments market. 

Announced on October 5, the deal will bring Avaloq under the Japanese IT group’s umbrella, although Avaloq will continue to operate using its own brand. 

Under the terms of the agreement, NEC will pay CHF 2.05 billion, or approximately $2.23 billion, for 100% of Avaloq shares. At present, 45% is owned by global private equity firm Warburg Pincus, whereas the rest are held by the firms’ founders and employees. 

Founded in 1985, Avaloq is an IT solutions company now specializing in banking, wealth management, and the digital payments space. The firm has developed business process as a service (BPaaS) and software as a service (SaaS) cloud solutions for banks and financial organizations. 

See also: Infosys acquires GuideVision in European services push

Headquartered in Switzerland, Avaloq is listed on the Tokyo stock exchange

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TOKYO (Reuters) – Japan’s NEC Corp 6701.T said on Monday it will buy Swiss financial software company Avaloq Group AG for 2.05 billion Swiss francs ($2.2 billion), a move that will spearhead its entry globally into finance software.

NEC will acquire unlisted Avaloq, Europe’s top provider of financial asset management software, from Avaloq’s founder and employees and private equity firm Warburg Pincus, which has a 45% stake and engineered the sale.

Avaloq, whose customers include Deutsche Bank DBKGn.DE and HSBC HSBA.L, reported sales of 610 million Swiss francs ($664 million) last year, 70% of which came from Europe.

The deal will allow NEC to offer cloud services acquired through the merger combined with its own biometrics and data analysis products to financial institutions and governments as digitalisation gathers pace.

It has spent the last decade restructuring unprofitable units that lost business to price-competitive Asian

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TOKYO (Reuters) – Japan’s NEC Corp 6701.T said on Monday it had agreed to buy Swiss financial software company Avaloq Group AG for 2.05 billion Swiss francs ($2.2 billion), a move that will spearhead its entry globally into digital finance software.

The deal is expected to be completed by April 2021 after necessary approvals, NEC said in a statement. Source text for Eikon:

Privately-held Avaloq, the top provider in Europe of financial asset management software, reported sales of 610 million Swiss francs ($664 million) last year, 70% of which came from Europe.

NEC has spent the last decade restructuring unprofitable units that lost business to price-competitive Asian rivals, selling its semiconductor, personal computer and smartphone units.

The company has since focused on providing governments and businesses with solutions services using its technologies in biometrics, healthcare, data analyses and telecommunications.

It recently received a 64.5 billion yen ($560 million) investment from

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