NTT to take full control of NTT Data with tender offer
Japanese telecom giant NTT says it will launch a tender offer to make its IT subsidiary a wholly owned unit.
NTT currently holds about 57 percent of NTT Data Group. It says the offer to take full control is priced at 4,000 yen, or about 27 dollars, per share. The acquisition cost is expected to total 2.3 trillion yen, or about 16 billion dollars.
NTT Data has a strong presence as an IT services provider to companies and government agencies and also oversees NTT's international operations. It has been building and managing datacenters at home and abroad in recent years. Demand for such facilities is growing amid the rise of generative AI.
NTT hopes to speed up decision making within the group and boost its competitiveness abroad by combining management with NTT Data.
NTT President and CEO Shimada Akira said: "We will utilize the group's cash flow by making NTT Data Group a wholly owned subsidiary. And we plan to make investments for growth more flexibly, swiftly and boldly."
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