Japan’s NTT Comm to buy two U.S. cloud computing firms for $880 million
October 28, 2013
Grazed from Reuters. Author: Editorial Staff.
NTT Communications Corp said it will gain control of two U.S. cloud computing firms in takeover deals worth a combined 85.5 billion yen ($880 million), as Japanese firms ramp up efforts to improve overseas networks through acquisitions.
The unlisted long-distance and overseas calling unit of Nippon Telegraph and Telephone Corp will buy Virtela Technology Services Inc, which provides communications services to corporations, and acquire an 80 percent stake in RagingWire Data Centers…
Denver, Colorado-based Virtela provides services to corporate clients in more than 190 countries through local partnerships, It will become a wholly owned subsidiary of the Japanese company, helping it to offer data services globally without licensing cables and lines in individual markets. NTT Communications, which has data centers in Hong Kong and Britain, will expand those operations in the United States with the $350 million investment in California-based RagingWire…
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