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Home > News Room > ST ENGINEERING'S ELECTRONICS ARM AND NEC CORPORATION ENTER INTO MOU

ST ELECTRONICS AND NEC CORPORATION
ENTER INTO MOU Set Up Joint Venture To Provide Cloud Services


*** For immediate use July 29, 2011

Singapore & Tokyo, 29 July 2011 - ST Electronics and NEC Corporation (NEC) announced that they have signed a Memorandum of Understanding (MOU) to collaborate in Information Communication Technologies (ICT) initiatives. The first initiative under this MOU, is a joint venture agreement between ST Electronics' wholly owned subsidiary, ST Electronics (Info-Software Systems) Pte. Ltd., and NEC Asia Pacific Pte. Ltd. (NEC APAC) to set up NEC STEE Cloud Services Pte. Ltd. (NEC STEE Cloud Services).

ST Electronics is the electronics arm of public listed, ST Engineering. The set up of this joint venture is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

The new joint venture will be set up with an initial investment of S$6m. NEC APAC will own a 60% stake in NEC STEE Cloud Services and ST Electronics (Info-Software Systems) the remaining 40% stake.

NEC STEE Cloud Services will set up a Cloud Oriented Data Centre (CODC*) to offer Software as a Service (SaaS) to both public and private institutions in Singapore, and subsequently to other ASEAN countries.

Existing customers from both companies that choose to move to this new cloud business model will benefit from lower operating costs by outsourcing their requirements to NEC STEE Cloud Services.

Beyond this initial joint venture, NEC and ST Electronics will also explore other areas of collaboration for solutions, technologies and services.

"As part of NEC's global strategies, one of which is to expand our global footprint for our Cloud business, NEC is excited at this opportunity to work with the ST Electronics group, one of the leading ICT companies in Singapore to collaborate on this cloud initiative. Singapore, being the Asia Pacific regional headquarters for NEC, is the ideal location to kick start this cloud business into the region. We believe the collaboration will benefit not only both companies in expanding our territories, but ultimately, our customers who can leverage on the latest and advanced technologies provided by the two technology powerhouses."
~ Toshiyuki Mineno,
Executive Vice President and CGBO (Chief Global Business Officer), NEC Corporation
 
"ST Electronics is delighted to work with NEC Corporation. The set up of NEC STEE Cloud Services is the first of several potential collaborations and strengthens ST Electronics' globalisation strategy in providing eco-enabling ICT solutions and Cloud services to the markets in this region. We will leverage on our combined strengths to provide a range of comprehensive end-to-end solutions that includes secure and efficient applications, support services and infrastructure."
~LEE Fook Sun,
President, ST Electronics

***

Notes
*

NEC's Cloud Oriented Data Centre (CODC) strategy - CODC is the concept of a global service network that provides businesses with high quality services regardless of location. CODCs feature base systems for providing services that are built from system models (a combination of specialized hardware products, operating systems and middleware) using NEC's proven technologies and core systems. The data centres provide highly reliable application services that are well suited for business utilization, including core systems.



About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.


About NEC Asia Pacific Pte Ltd (NEC APAC)
Singapore-based NEC Asia Pacific is the regional headquarters for NEC Corporation (HQ: Japan) in the Asia Pacific region (South and Southeast Asia, and Oceania). As a leading infocomm technology provider and systems integrator offering regional sales and services support and consultancy, NEC APAC develops solutions on carrier network, global identity, RFID, enterprise server, unified communications, multimedia display, and contact centre, as well as provides outsourcing and managed services.

To leverage on its technological expertise, NEC APAC has established regional competency centres in public safety and display solutions to expand its capabilities and expertise to support businesses in the Asia Pacific region.

In line with the NEC Group Vision to realize an information society friendly to humans and the earth, NEC also embarks on corporate social responsibilities (CSR) initiatives to support and "make a difference" to the Nature (environment), Education and Community. For more information, please visit www.nec.com.sg.

NEC is a registered trademark of NEC Corporation. All Rights Reserved. Other product or service marks mentioned herein are the trademarks of their respective owners. (C)2011 NEC Corporation.

About Singapore Technologies Electronics Limited (ST Electronics)
ST Electronics is the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. With a presence in more than 30 cities in 20 countries, ST Electronics markets its solutions to more than 100 countries internationally. It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time command and control, modelling and simulation, interactive digital media, intelligent building management and information security. Please visit www.stee.stengg.com.


About Singapore Technologies Engineering Ltd (ST Engineering)
ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of $5.98b in FY2010 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 22,000 employees worldwide, and over 100 subsidiaries and associated companies in 24 countries and 45 cities. Please visit www.stengg.com.





Media Contacts

Masako Hirano
Deputy Director, Public Relations
NEC Asia Pacific Pte. Ltd.
Tel: (65) 6379 2570
Mobile: (65) 9018 6652
E-Mail:M-Hirano@NEC.com.sg

Eliza Lim
Manager, Public Relations
Tel: (65) 6379 2571
Mobile: (65) 9615 7590
E-Mail:Eliza_lim@NEC.com.sg

Akiko Shikimori
Senior Manager, Corporate Communications
NEC Corporation
Tel : 81-3-3798-6511
E-Mail:a-shikimori@ay.jp.nec.com

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