- 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.
NTT Comm to buy two U.S. cloud-computing firms for $875M
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Symbol | Last Price | % Chg |
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NTT | - | - |
Nippon Telegraph and Telephone Corporation |