NEC Display Solutions (NDS), a subsidiary of NEC, will be combined with Sharp, as part of a joint venture agreement between the two companies, expected to be finalised by July 2020.
The joint venture will see NEC transfer 66% ownership of NDS to Sharp and retain a 34% equity stake in the business. NEC will continue to sell the joint venture’s products and solutions including NEC branded products.
NDS is a leading global provider of visual technology and digital signage solutions, and Sharp is a worldwide developer of business products including professional and commercial displays, as well as 8K ultra high definition monitors.
NDS president, Hisatsugu Nakatani said NEC is recognised as a trusted advisor and total solutions provider, offering one of the broadest visual solutions portfolio in the industry.
“This joint venture between Sharp and NDS will bring even greater value and benefits to customers and partners by extending our state-of-the-art product portfolios together with a range of professional service offerings.
“Sharp and NDS follow the same strategic approach to the future of visual solutions, focusing on superior customer satisfaction enabled by high quality products, sales leadership excellence and committed relationship building.”
Sharp senior executive managing officer, Fujikazu Nakayama said the combination of Sharp’s and NDS’ international strengths is mutually complementary.
“We expect this agreement to result in a wide range of synergies, including economies of scale and business expansion in new categories, including an 8K+5G ecosystem. Sharp believes that developing NDS as a joint venture with NEC will contribute to our business growth by enforcing our B2B business and expanding sales.”