NEC and Vista Equity Partners establish JV and strategic partnership
Via NEC News room
Oct 2, 2020
Tokyo, Japan - NEC Corporation (NEC; TSE: 6701) today announced the establishment of a joint venture and strategic partnership with Vista Equity Partners (Vista), a leading global investment firm focused on enterprise software, data, and technology-enabled businesses, to deliver enterprise software solutions from Vista's portfolio of companies to the Japanese market. The partnership will come into effect immediately, with NEC and Vista jointly establishing a joint venture, SaaSpresto Ltd., which started operations today.
As companies in Japan aim to create a competitive advantage in the digital world, upgrading legacy systems and technology infrastructure to drive digital transformation (DX) has become imperative to optimize the customer experience, deliver data-based insights, enable greater collaboration and improve agility, productivity and innovation. Vista presently has over 60 enterprise software companies in its private equity portfolio that provide technology products and solutions to more than 200 million users worldwide. This partnership will help ensure these enterprise software tools are available as part of NEC's efforts to accelerate DX efforts in Japan through strategic consultancy and IT modernization.
“Vista's experience and expertise as one of the world's leading technology investors, along with its roster of best-in-class enterprise software companies, make them an ideal strategic partner for this initiative," said Takayuki Morita, Senior Executive Vice President, Chief Financial Officer and Member of the Board, NEC Corporation. “We look forward to partnering with the Vista team and Vista companies on our digital transformation strategy, bringing leading enterprise software solutions to Japanese businesses."
SaaSpresto plans to begin sales in January 2021 with solutions from several companies in the Vista portfolio. Vista will facilitate introductions and opportunities for SaaSpresto in its private equity portfolio to co-market solutions. The partnership aims to serve more than three thousand Japanese businesses in the next four years.
“In addition to being a thriving global economy, Japan has long been an early leader and adopter of technology and innovation, and NEC has led the way in providing digital solutions that have the power to transform Japanese companies," said Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners. “This partnership will enable small- and medium-sized enterprises in Japan to unlock value and further accelerate their digital transformation with the powerful software solutions provided by Vista companies."
NEC will continue to help businesses enhance their DX efforts, while providing “Solutions for Society" that promote safety, security, efficiency and equality. NEC aims to solve a wide range of challenging issues and to create new social value for the changing world. The Company has found an ideal partner in Vista, who believes in the transformative power of technology to create a smarter economy, a healthier planet, diverse and inclusive communities, and a broader path to prosperity.
Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.