NTT Communications Acquires 74% Stake in Nexus backed Netmagic Solutions
NTT Communications Corporation (NTT Com) and Netmagic Solutions Private Limited (Netmagic Solutions, , India’s Leading Datacenter Service Provider) jointly announced today that NTT Com will acquire 74% of Netmagic Solutions, a leading provider of datacenter services in India. The acquisition is subject to the approval of relevant authorities in India.The addition of Netmagic Solutions’ datacenter services and sites will expand NTT Com’s capability to provide one-stop ICT solutions in the fast-growing Indian market, as well as accelerate its offering of globally seamless cloud services through expanded ICT infrastructure Asia-wide.
Netmagic Solutions, an experienced provider of managed IT hosting services, currently operates seven datacenters in major Indian cities such as Mumbai, Chennai, Noida (Delhi-NCR) and Bangalore. It provides services such as colocation and managed hosting to more than 1,000 customers, as well as ISP and cloud services to many other customers. The company was named India’s Datacenter Service Provider of the Year 2011 by Frost & Sullivan. Established in 1998, Netmagic Solutions is headed by CEO Sharad Sanghi and operates bases in Mumbai, Bangalore, Chennai and Delhi. It employs about 500 people. The company’s headquarters are located at 2nd Floor, (North Side), Block B-2, Phase I, Nirlon Knowledge Park, Goregaon (East), Mumbai.
"This alliance will help Netmagic to leverage NTT Com’s global network and datacenter footprint for customers. The partnership will also help us strengthen our growth plans in the Indian sub-continent and globally, while NTT Com’s global customers in India can benefit from Netmagic’s expertise and leadership position in the managed IT hosting and cloud services market," said Sharad Sanghi, Founder & CEO of Netmagic Solutions.
"This acquisition enhances our global status as the ICT partner of choice, including now in India, one of the key areas of our future growth," said Katsumi Nakata, Senior Vice President of NTT Communications. "By leveraging the complementary strengths of both companies together with the continued leadership of Mr. Sharad Sanghi as CEO of Netmagic, we will accelerate enhancement of our global cloud services for the provision of high-quality ICT services."
The ongoing expansion of multinational operations in the business world is increasing the worldwide demand for seamless one-stop ICT services, including the managed operation and maintenance of networks, datacenters, servers and applications. NTT Com, under the Global Cloud Vision launched in October 2011, is meeting this demand with global end-to-end cloud services that companies use to grow their global operations. Going forward, the NTT Com Group will continue to build global strengths with a special focus on Asia, aiming to achieve global sales revenues of at least 1.5 trillion yen, including a doubling of ex-Japan sales revenues, by 2015.
For further details, please visit http://www.netmagicsolutions.com/ & http://www.ntt.com/index-e.html
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