NTT Communications Corp. will acquire 74 percent of Netmagic Solutions, a provider of data-center services in India. The acquisition is subject to regulatory approval.
The addition of Netmagic Solutions' data-center services and sites will allow NTT Com to provide ICT solutions in the Indian market, as well as accelerate its offering of global cloud services.
Netmagic Solutions operates seven data centers in several Indian cities. It provides colocation, managed hosting, ISP, and cloud services.
"This alliance will help Netmagic to leverage NTT Com's global network and data-center footprint for customers," said Sharad Sanghi, founder and CEO of Netmagic Solutions. "The partnership will also help us strengthen our growth plans in the Indian sub-continent and globally, while NTT Com's global customers in India can benefit from Netmagic's expertise and leadership position in the managed IT hosting and cloud services market."
"The acquisition elevates our global status as the ICT partner of choice, including India, one of the key areas of our future growth," said Katsumi Nakata, SVP of NTT Communications.