NTT's (NYSE: NTT) services subsidiary NTT Data Europe wants to further its presence in both Europe and Latin America so it's going to acquire Italian IT service provider Value Team from Value Partners.
Seeing Value Team as a "bridgehead" with Brazil to target new customers in other Latin American-based countries, Value Team provides a host of IT services including consulting, system integration and outsourcing to companies in Europe and Brazil.
NTT would not directly confirm the financial terms of the deal.
Following its deal to acquire Boston-based Keane International last December, analysts cited the Value Team acquisition as just another piece in NTT's three-year, $3.7 billion spending plan on acquisitions to enhance its international sales.
"This acquisition has a positive impact on NTT Data's overseas expansion plan," Hidemasa Mizumoto, an analyst at Mizuho Investors Securities Co. in Tokyo, told Bloomberg. "Value Team SpA's business locations in South America will help NTT Data to obtain more overseas sales."
For more:
- Bloomberg has this article
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