NTT Com to buy 74% stake in Netmagic Solutions

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

NTT Communications Corporation (NTT Com) and Netmagic Solutions Private Limited (Netmagic Solutions) have announced that NTT Com will acquire 74% of Netmagic Solutions. The acquisition is subject to the approval of relevant authorities in India.

The addition of Netmagic Solutions' datacenter services and sites will expand NTT Com's capability to provide one-stop ICT solutions in the fast-growing Indian market, as well as accelerate its offering of globally seamless cloud services through expanded ICT infrastructure Asia-wide.

Sharad Sanghi, Founder & CEO, Netmagic Solutions said, "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 positions in the managed IT hosting and cloud services market."

"This acquisition enhances our global status as the ICT partner of choice, including now in India, one of the key areas of our future growth," said Katsumi Nakata, Sr. VP, NTT Communications.

"By leveraging the complementary strengths of both companies together with the continued leadership of Sharad Sanghi as CEO of Netmagic, we will accelerate enhancement of our global cloud services for the provision of high-quality ICT services."


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