NTT Data (NYSE: NTT) made it official that it will acquire U.S.-based IT services provider Keane.
By acquiring Keane, NTT Data will not only enhance its IT capabilities, but also gain a host of large U.S. IT accounts and establish a greater presence UK and Australia. In addition, NTT Data said it would also gain "enhanced operational know-how regarding global delivery, which will support its IT services business and enable the provision of vertically focused IT solutions in the U.S. and abroad."
Keane, in turn, will not only expand its global presence, but be able to offer new enterprise applications leveraging NTT Data's global SAP presence.
Under the terms of the agreement, Knight Subsidiary, a subsidiary of NTT Data, will merge with Keane International where Keane will become a wholly-owned subsidiary of NTT Data.
While official terms of the agreement, which is expected to close in December were not revealed, earlier reports speculated that NTT Data put $1.2 billion on the table for Keane.
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