NEC and Sharp have agreed to create a joint venture by combining NEC Display Solutions (NDS), a subsidiary of NEC, with Sharp.The new joint venture will allow both companies to build on their strengths and to address the visualization needs of their global customers.NDS is a global provider of visual technology and digital signage solutions for a variety of markets while Sharp is a worldwide developer of business products such as professional and commercial displays as well as advanced technologies like next generation 8K-Ultra High Definition monitors.In a press release, President of NEC Display Solutions Hisatsugu Nakatani explained how the joint venture between NEC and Sharp will benefit both companies' customers and partners, saying:NEC offers one of the broadest visual solutions portfolios in the industry, and with a consultancy-led sales approach, NEC is recognized as a trusted advisor and total solutions provider.
This joint venture between Sharp and NEC Display Solutions 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 NEC Display Solutions 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.Under the terms of the transaction, NEC will transfer 66 percent ownership of NDS to Sharp and the company will retain a 34 percent equity stake in the business.The joint venture will continue to provide NEC branded products and the transfer is scheduled to be concluded by July of this year.