October 16, 2012 / 7:01 PM / 7 years ago

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

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

(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.

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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