Thursday, October 21, 2010

Japan based NTT Data is planning to acquire US based Keane

Bloomberg has reported that NTT Data Corp., the network-services unit of Japan’s largest phone company, is in advanced talks to buy Keane Inc. for more than 100 billion yen ($1.2 billion) to expand in the U.S.

Keane is US based information technology service provider.

Read more details from BusinessWeek.

NTT Data plans to purchase all the shares in Boston-based Keane, which is half-owned by a Citigroup Inc. The remaining Shares of the Keane are owned by their Employees.

NTT Data climbed 1.5 percent to close at 250,600 yen on the Tokyo Stock Exchange, after climbing as much as 3.2 percent.

NTT will get access to Keane's research and development bases in India and elsewhere.

Making the most of their cash reserves and the stronger yen, more Japanese firms will likely turn to overseas mergers and acquisitions to propel global expansion.

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