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

Quick Facts

Editors Pick
Schaeffler AG, the German auto parts maker owned by the Schaeffler family, Thursday set its initial public offering price at 12.50 euros per share. The company raised gross proceeds of about 938 million euros by offering 75 million shares, of which 66 million from Schaeffler AG and the remaining 9... Dick Costolo, who stepped down as CEO of Twitter in June, is taking a bit of a career turn - to Hollywood. The one-time tech darling left Twitter after 5 years at the helm amid Wall Street concerns about the future of the social media giant. Now he will be consulting on story lines for the HBO series Silicon Valley. Formula One is reportedly near a deal that would sell the racing circuit to an investor group that includes the owner of the Miami Dolphins. The Financial Times reports that the purchase price for the racing company is $8.5 billion. According to the paper, Dolphins owner Stephen Ross has reached a hand-shake agreement with CVC, a private equity firm holding a 35.5 percent stake in Formula One.
comments powered by Disqus
Trade NTT now with 
Follow RTT