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NEC to buy Swiss financial software firm Avaloq for $2.2 bln

TOKYO, Oct 5 (Reuters) - Japan’s NEC Corp said on Monday it had agreed to buy Swiss financial software company Avaloq Group AG for 2.05 billion Swiss francs ($2.2 billion), a move that will spearhead its entry globally into digital finance software.

The deal is expected to be completed by April 2021 after completing the necessary procedures and approvals, NEC said in a statement.

Source text for Eikon: ($1 = 0.9181 Swiss francs) (Reporting by Chris Gallagher; Editing by Muralikumar Anantharaman)

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