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
Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions. Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations.
comments powered by Disqus
Follow RTT