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NTT Data Said to Buy Keane for US$1.23 Bln
October 22, 2010
Tokyo-based NTT Data is said to spend at least 100 billion Yens (US$1.23 billion, US$1=81 Yens) on acquiring 100% stake in the Boston-based IT service firm Keane, according to an October 21, 2010 report by Nikkei. It is projected that the two companies plan to reach an agreement by the end of October this year. As per the agreement, NTT Data is expected to gain access to Keane's R&D bases in India and elsewhere. It is reported that NTT Data's move is aimed at expanding the company's presence in the US market.
NTT Data is the network service unit of NTT (Nippon Telegraph & Telephone). In May 2009, NTT Data announced that the company aims to quadruple its overseas sales, reaching 300 billion Yens (US$3.70 billion) by May 2013. Earlier in July this year, NTT agreed the purchase of South Africa's Dimension Data Holdings for 2.1 billion Pounds (US$3.3 billion; US$1=0.63 Pounds).
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