After several years of record-setting acquisitions, NEC Corp. plans to buy more overseas companies to expand its portfolio of services that help governments and companies digitalize their operations.

The mergers and acquisitions will focus on the United States and Europe, while expansion in Asia can come from organic growth, Chief Executive Officer Takayuki Morita said in an interview. NEC is looking to add to its digital government and finance offerings and may also purchase companies that have 5G wireless network expertise, Morita said.

The Tokyo-based company is counting on demand from governments, financial institutions and telecommunications firms to help it add ¥500 billion ($4.5 billion) to its revenue and grow operating profit by nearly 70% over the next five years.