NTT Com to buy 74% stake in Netmagic Solutions

By Telecom Lead Team: NTT
Communications Corporation (NTT Com) will buy 74 percent stake in Netmagic
Solutions, a provider of datacenter services in India.

The acquisition will expand NTT Com’s capability to
provide one-stop ICT solutions in Indian market, as well as accelerate its
offering of globally seamless cloud services through expanded ICT
infrastructure Asia-wide.

“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.

Netmagic Solutions, a provider of managed IT hosting
services, currently operates seven datacenters in major Indian cities such as
Mumbai, Chennai, 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 and the company employs about 500 people.

“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.

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

NTT Com, under the Global Cloud Vision launched in
October 2011, is meeting the growing demand from enterprises with global
end-to-end cloud services that companies use to grow their global operations.

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