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NTT Comm to buy two U.S. cloud-computing firms for $875M

  • NTT Communications, the long-distance and overseas calling unit of Nippon Telegraph & Telephone (NYSE:NTT), has agreed acquire Denver-based Virtela Technology for $525M.
  • The acquisition of Virtela will enable the Japanese company to offer worldwide data services without having to license cables and lines in individual markets.
  • NTT will also buy an 80% stake in RagingWire, another provider of data services, for $350M. RagingWire generates annual revenues of $85M and a compounded annual growth rate of 30%. The deal will more than double NTT Com's data-center space in the U.S.

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NTT--
Nippon Telegraph and Telephone Corporation