NEC plans to make acquisitions in Brazil

NEC, the listed Japanese computer hardware and software business, plans to make acquisitions in Brazil, Valor Economico reported. NEC seeks to acquire information technology companies of all sizes in Brazil, Valor reported in a story in an inside section of the daily.
 
NEC is willing to spend a sum in Brazil similar to the USD 780m the company spent on IT acquisitions in the United States, Australia and Argentina, should it find good opportunities, Valor reported, citing Takayuki Morita, vice president for international business.
 
Though 60% of the business of NEC in Brazil is supplying equipment for telecommunications, the Japanese company wants to expand in the South American country in software, according to the report citing an interview with Morita in Tokyo. Valor cited as an example software for so-called intelligent cities that is being installed in the northeastern Brazilian state of Pernambuco in partnership with Construtora Norberto Odebrecht.
 
The reporter traveled to Japan at the invitation of NEC and Odebrecht, one of Brazil’s largest engineering and construction companies, according to a footnote to the story.
 
NEC is unsatisfied with its sales of about BRL 400m (USD 195m) annually for some years in Brazil, according to the report based on the interview with Morita at the headquarters of NEC in Tokyo.