NTT Communications Corp. announced that it will take over the reins of two US cloud computing firms, Virtela Technology Services and RagingWire Data Centers, for an overall investment of $85.5 billion Yen (US$880 million; US$1 = 97.3400 Yen), as reported by Reuters on October 28. After the transaction is completed, Virtela will become NTT Comm's 100% owned subsidiary, providing communications services to enterprise clients. NTT Comm also expects to expand its data center presence in the United States by gaining an 80% stake in RagingWire for US$350 million. 

In related news, NTT Comm's competitor SoftBank concluded a US$20-billion deal to buy US wireless service provider Sprint earlier this year - Japan's largest overseas acquisition so far.