logo
Share SHARE
FONT-SIZE Plus   Neg

NTT Com To Buy Virtela; To Acquire Approx. 80% Equity Interest In RagingWire

NTT Communications Corp., the ICT solutions and international communications business within NTT (NTT), and Virtela Technology Services Incorporated, a global managed and cloud network services company, announced a definitive agreement under which NTT Com has agreed to wholly acquire Virtela for approximately $525 million. The acquisition expands NTT Com's global network services coverage from 160 to more than 190 countries/regions.

Virtela, a 400-employee company with global operations and delivery centers in the US, India and the Philippines, serves more than 500 customers worldwide. Virtela is headquartered in Denver, Colorado.

NTT Communications Corp. also announced it will acquire approximately 80% equity interest in RagingWire Data Centers, a provider of data center services in the United States, for $350 million. The acquisition follows a definitive agreement reached with RagingWire shareholders.

RagingWire has approximately 300 employees. NTT Com said the acquisition will more than double its data center space in the US. NTT Com will also deploy RagingWire's know-how and patented technologies for the design and operation of highly dependable, scalable and sophisticated data centers.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Activision Blizzard reported a better-than-expected increase in second-quarter profit, as the video game publisher saw robust growth in digital channels, penetration in China and improved margins. It lifted its guidance for 2015, sending its shares up... Diversified media and entertainment conglomerate Walt Disney Co. said Tuesday after the markets closed that its third quarter profit rose 11% from last year, driven mainly by strong earnings growth at its film and consumer products divisions. The company's quarterly earnings per share came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock.
comments powered by Disqus
RELATED NEWS
Trade NTT now with 
Follow RTT