TMCnet News
Nippon Telegraph and Telephone acquires CenterstanceNov 07, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Nippon Telegraph and Telephone Corporation (NTT), a Japan-based telecommunications company, has acquired Centerstance, Inc., a US-based provider of business solutions. Following the transaction, Centerstance will be renamed as NTT Centerstance, Inc. and will remain a wholly-owned subsidiary of NTT. Centerstance has sales of $12.8 million in 2011. Announcement (September 18, 2012): NTT has entered into an agreement to acquire Centerstance. Upon completion of the transaction, Centerstance will operate as a wholly-owned subsidiary of NTT. The acquisition is expected to complete by the end of October, 2012. Deal Type Acquisition Sub-Category 100% Acquisition Deal Status Completed: 2012-11-06 Deal Participants Target (Company) Centerstance, Inc. Acquirer (Company) Nippon Telegraph and Telephone Corporation Deal Rationale The acquisition solidifies NTT's cloud-based business solutions portfolio, and accelerates its strategy to offer services across the cloud computing landscape, from strategy to implementation and management. The acquisition positions NTT to extend its reach to emerging markets, globally scale its high impact consulting team, while maintaining its optimized methodology and focus on solving customer business process challenges with cloud technologies. |