NEC Corporation (Toyko) and Sharp Corporation (Osaka, Japan) announced that the two companies have agreed to a joint venture by combining NEC Display Solutions, Ltd. (NDS), a subsidiary of NEC, with Sharp. According to a statement released by NEC, the Sharp-NEC joint venture will allow both companies to build upon their strengths and address the visualization needs of their global customers.
The statement goes on to describe NDS as a widely recognized, leading global provider of visual technology and digital signage solutions for a variety of markets. With a comprehensive, solution-oriented portfolio and reputation as a provider of high-quality displays, NDS has a worldwide presence with a large number of global customers. Like NDS, Sharp is a worldwide developer of innovative business products, including professional and commercial displays, and advanced technologies like next generation 8K-Ultra High Definition monitors.
Per the terms of the transaction, NEC will transfer 66% ownership of NDS to Sharp, and retain a 34% equity stake in the business. The joint venture will continue to provide NEC branded products. NEC will also continue to sell the joint venture’s products and solutions to its customers around the world. The transfer is scheduled to be concluded on July 1, 2020.
For more information, visit necdisplay.com.