Sharp has acquired 66 percent of NEC Display Solutions shares of stock to complete the previously announced transaction to form a joint venture. The deal became effective November 1. In connection with the completion of the transaction, the company has changed its name to Sharp NEC Display Solutions and has started business operations as a subsidiary of Sharp.
The newly formed SNDS will continue its focus on business-to-business display technology for a variety of markets and applications including digital cinema. Fujikazu Nakayama will serve as chairman of the new business; Hisatsugu Nakatani will be its president.
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. Known worldwide for a commitment to high-quality products, focus on customer support and outstanding partner relationships, SNDS approaches this new opportunity with plans to continue delivering high-quality, innovative solutions to its customers around the world.
Sharp NEC Display Solutions www.sharpnecdisplay.com