NEC Corporation announced on December 27, 2018 the acquisition of Denmark’s largest IT company, KMD Holding ApS, the holding company of KMD A/S for about 8 billion Danish Kroner (approx. US$ 1.2 billion) from the private equity group Advent International. This acquisition is in line with NEC‘s “Mid-term Management Plan 2020” to shift NEC towards horizontal service platform businesses. The transaction is expected to be completed by end of February 2019.KMD (originally Kommunedata)
- founded in 1972 by the merger of municipal IT centers.
- 1972 – 2009 owned by the national association of municipalities (Kommunernes Landsforening (KL))
- 2009 sold to EQT Partners (85%) and Arbejdsmarkedets Tillægspension (ATP) (15%) for DKK 2 billion (approx. US$ 310 million). During 2019-2012 KMD was transformed from a government sector organization to a private sector company.
- 2012 EQT and ATP sold KMD to Advent International
- 2018/2019 Advent International sold KMD to NEC for about 8 billion Danish Kroner (approx. US$ 1.2 billion)
- Employees: 3000
- Revenues: DKK 4.7 billion (2013)
- Net income: DKK 64 million (2013)
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