Here’s the word from Todd Bouman, President and CEO, of NEC Display, in the wake of overnight news that his company and Sharp are becoming one this summer, with Sharp as majority owner.
We are pleased to share the news with you that NEC Corporation and Sharp Corporation have agreed to create a joint venture by combining NEC Display Solutions, Ltd. (NDS), a subsidiary of NEC, with Sharp. The transfer is scheduled to close on July 1st, 2020.
NDS and Sharp are two market-leading brands in the production and development of visual solutions. The joint venture will allow both companies to build upon their strengths and address the visualization needs of their global customers.
We believe this joint venture will bring even greater value and benefits to our customers and partners by extending the state-of-the-art product portfolio together with a range of professional service offerings. With our joined forces, we are looking forward to enhancing our strategic opportunities under the new joint venture. We thank you for your continued business support and we look forward to continuing to provide you with the highest quality products, solutions and services in the industry. We are fully committed to support your business needs.
Between now and when the joint venture is finalized on July 1st 2020, NEC Display Solutions will continue to operate as it does now. The principles we’ve been working under will continue as they have. After July 1st 2020, we will start to look at ways in which we can all benefit from the joint venture between these two companies. Both companies share an ethos in quality and innovation and synergetic plans will be announced in due course over the coming months.
In the meantime, we will continue with business as usual albeit in more challenging circumstances within the current climate.
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for some 14 years. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He’s based near Halifax, Nova Scotia, on Canada’s east coast.