Avaloq's Acquisition by NEC Successfully Completed


Avaloq's Acquisition by NEC Successfully Completed: Avaloq, a Swiss-based global leader in digital banking solutions and wealth management technology, and Japan-based NEC Corporation today announced the closing of NEC's acquisition of Avaloq. Each being a market leader in their own field, the combination of their shared vision, technological strengths, and global presence, will accelerate both companies' long-term growth, global expansion and value creation strategy.



This acquisition was first announced in October 2020, and following receipt of the relevant regulatory approvals, the acquisition was completed on December 22, 2020. NEC now holds 100% of Avaloq's shares, including the 45% previously held by private equity firm Warburg Pincus, as well as the remaining shares held by Avaloq's founder Francisco Fernandez and by employees.



Founded in 1985, Avaloq provides powerful cloud solutions for banks and wealth managers around the globe through business process as a service (BPaaS) and software as a service (SaaS) along with on-premise solutions. Avaloq's vision for the future of wealth management is to maintain the human relationship an investor has with an advisor, to enhance the relationship through technology and to increase engagement and satisfaction. The democratization of wealth management will allow more people to have access to a greater quantity and quality of investment strategies and advice that was once reserved for ultra and high net worth individuals only.

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