Japanese telecommunications company Nippon Telegraph and Telephone Corporation
(NTT) is to acquire an additional 19% in managed hosting and cloud services provider Netmagic. NTT, which has headquarters in Tokyo, Japan, was established in 1998. A Fortune Global 500 company, NTT offers a range of services such as fixed-line and mobile telephony alongside a range of internet services. Its full acquisition of Netmagic will strengthen its managed hosting and cloud services capabilities.
Netmagic, which has headquarters in Mumbai, India, was established in 1998. The company provides a range of data center services including cloud, hosting collocation and security services. It caters to around 1,500 companies worldwide and provides infrastructure management services to NTT Communications' customers in the Americas, Europe and in the Asia-Pacific region. Financial details of the acquisition have not been revealed.
"This alliance will help Netmagic to leverage NTT Com’s global network and datacenter footprint for customers. The partnership will also help us strengthen our growth plans in the Indian sub-continent and globally, while NTT Com’s global customers in India can benefit from Netmagic’s expertise and leadership position in the managed IT hosting and cloud services market," explained Netmagic’s Founder and CEO Sharad Sanghi on the occasion of NTT’s acquisition of its original 74% stake in Netmagic in January 2012.Do you know of any other companies involved in acquisitions? Let us know the details. Add your comments below.