The NEC Corporation has teamed up with Vista Equity Partners to promote digital transformation in Japan. To that end, the two companies have launched a new joint venture that began official operations on October 1.
Dubbed SaaSpresto Ltd., the new joint venture will seek to provide Japanese companies with enterprise-grade software solutions. The initiative will leverage Vista’s current private equity portfolio, which includes more than 60 technology developers. SaaSpresto will essentially act as a reseller for those companies, and hopes to provide digital transformation technology for upwards of 3,000 businesses in Japan in the next four years.
SaaSpresto’s sales initiatives are expected to begin in January of 2021. The venture will also try to create co-marketing opportunities for the companies in the Vista portfolio. NEC, meanwhile, is hoping that the strategic partnership will drive innovation and lead to better, data-based corporate and customer outcomes that make society safer and more productive.
“Vista’s expertise as one of the world’s leading technology investors make them an ideal strategic partner for this initiative,” said NEC Board Member, CFO, and Senior Executive VP Takayuki Morita. “We look forward to partnering with the Vista team and Vista companies on our digital transformation strategy, bringing leading enterprise software solutions to Japanese businesses.”
“Japan has long been an early adopter of technology,” added Vista Chairman, Founder, and CEO Robert Smith. “This partnership will enable small- and medium-sized enterprises in Japan to unlock value and further accelerate their digital transformation with the software solutions provided by Vista companies.”
The joint venture is one of several NEC initiatives that are intended to accelerate digital transformation. In June, the company formed a capital and business partnership with NTT Corporation that will focus on the development of products that take advantage of optical and wireless technologies. NEC has previously argued that COVID-19 will force companies to adjust their digital transformation strategies to prioritize contactless solutions.
October 2, 2020 – by Eric Weiss