NTT Com to Buy Netmagic Stake

TOKYO -- NTT Communications Corporation (NTT Com) and Netmagic Solutions Private Limited (Netmagic Solutions) 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 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.

NTT Communications Corp. (NYSE: NTT)