NTT puts stake in India data center market with Netmagic purchase

NTT Communications (NYSE: NTT) wants to take advantage of the India's data center market and it found a quick entry point by purchasing a 74 percent stake in Netmagic Solutions.

Through the purchase, NTT instantly aligns itself with a company that currently has over 1,000 business customers that are served from data centers in a number of major cities in India, including Mumbai, Chennai, Noida (Delhi-NCR) and Bangalore.

As expected, NTT's acquisition will have to get the sign off from Indian regulators.

Like other international expansion moves it has made over the past year, the Netmagic acquisition is in line with NTT's Global Cloud Vision, an initiative set on delivering end-to-end cloud services for large multinational corporation customers, particularly in the Asia-Pacific region.

For more:
- see the release

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