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Kyocera to buy data security co for $127 million: Nikkei
October 16, 2012 / 7:01 PM / 5 years ago

Kyocera to buy data security co for $127 million: Nikkei

(Reuters) - Japanese electronics firm Kyocera Corp (6971.T) will buy security software developer Motex Inc for about 10 billion yen ($126.7 million) to tap into the growing demand for secure smartphone data, the Nikkei reported.

A logo of Kyocera Corp. is seen at Wireless Japan 2012, a smartphone and mobilephone technology exhibition, in Tokyo May 31, 2012. REUTERS/Issei Kato

The two companies will develop remote monitoring systems for smartphones and tablets, the Japanese business daily said.

Motex holds more than a 30 percent share of the corporate PC network security software in Japan, the Nikkei said.

The deal will boost annual sales for the Kyocera group’s security business to nearly 5 billion yen, the paper reported.

($1 = 78.9000 Japanese yen)

Reporting by Mridhula Raghavan in Bangalore

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