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NEC to acquire Avaloq in CHF 2.05bn deal

Avaloq will be acquired by NEC Corporation, a Japanese IT and network technology firm in a deal estimated at CHF 2.05 billion and to be completed by April 2021. Currently, private equity firm Warburg Pincus holds 45% of the Zurich-based wealth tech’s shares. The balance is owned by its founders and employees. Upon completion, NEC will have a 100% stake in…

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