Mergers and Acquistions News
Categories: Telecoms
September 14th 2009, 16:12PM
NEC Corporation, Casio Computer and Hitachi have announced an agreement to merge their respective mobile terminal businesses next year with the establishment of a joint venture company.
It follows the establishment of Casio Hitachi Mobile Communications in 2004, a merger which aimed to capitalise on image processing technologies from both firms to provide mobile handsets for KDDI Corporation and SoftBank Mobile in Japan, as well as Verizon Wireless in the US.
The joint venture company, which will be established in 2010, aims to draw from the complete integration of business functions between NEC's mobile terminal operations unit, as well as merging the technological and product development experience of each company.
Following the merger, the three companies hope to strengthen both domestic and international business while increasing competitive strength and capitalising on each firm's brand recognition.
Casio recently announced the establishment of a new subsidiary company in Italy, which hopes to profit from its proximity to the company's Europe headquarters in Norderstedt, Germany.
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