Sharp Corporation and NEC Corporation, have announced the completion of the acquisition of 66% of the shares of NEC Display Solutions, Ltd. (NDS), a subsidiary of NEC. As a result of the acquisition, NDS will become a subsidiary of Sharp and a joint venture with NEC retaining 34% of its shares. The joint venture has been renamed Sharp NEC Display Solutions (SNDS) and will focus on the B2B display business. SNDS will be headed up by Fujikazu Nakayama who will serve as Chairman of the new business and Hisatsugu Nakatani will serve as President.
Following is a communication signed by Mike Marusic, President and CEO, Sharp Imaging and Information Company of America and Todd Bouman, President and CEO, Sharp NEC Display Solutions of America.
“This new company represents our deep and ongoing commitment to the B2B display business. The previous Sharp and NDS display businesses are two market-leading brands in the production and development of visual solutions, and the Sharp-NEC joint venture will result in a wide range of synergies that we can pass on to the business community and our resellers.
Additionally, this venture will add scale and efficiency for our combined product lines across the world, allow us to more competitively pursue emerging categories within the marketplace and combine the immense knowledge, skills and capabilities of both organizations.
Over the coming months, the Americas teams of both Sharp and SNDS will work closely together to develop our go forward strategies to maximize the value of the joint venture to our partners. During this period, both teams will continue to operate as they do now and continue to support their respective customers as they have been doing.
This is an exciting new chapter for us moving forward. We have mutual admiration and respect for one another along with a deep ethos in quality and innovation. We look forward to sharing our synergetic plans as we move further down this exciting road.”