Japan’s NTT Data Corp. is buying Dell Inc.’s information technology services division for US$3.05 billion.
The deal would mark one of NTT Data’s largest foreign buyouts as it seeks growth overseas, while enabling Dell to raise cash to help finance its acquisition of storage vendor EMC Corp. for US$59 billion, the Wall Street Journal reported.
“There are few acquisition targets in our market that provide this type of unique opportunity to increase our competitiveness and the depth of our market offerings,” the newspaper quoted NTT Data chief executive John McCain as saying.
“Dell Services is a very well-run business and we believe its employee base, long-standing client relationships, and the mix of long-term and project-based work will enhance our portfolio,” he added.
NTT Data is the information technology services and consulting division of Nippon Telegraph & Telephone Corp., which also controls Japan’s biggest mobile carrier, NTT DoCoMo Inc.
The group aims to raise its overseas revenue to US$22 billion by the year ending March 2018, from around US$15 billion in the last fiscal year, the report.
Dell’s IT consulting division, formerly known as Perot Systems, was established by former US presidential candidate Ross Perot and sold in 2009 to Dell for US$3.9 billion.
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