NTT buys 74% stake in Netmagic

Our Bureau New Delhi | Updated on January 25, 2012

Tokyo-based NTT Communications Corporation (NTT Com) has acquired 74 per cent stake in Indian data centre solutions provider Netmagic Solutions Private Ltd. The companies did not disclose the deal size.

"The addition of Netmagic Solutions' datacentre 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," said a press release.

Netmagic Solutions currently operates seven datacentres 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 . Established in 1998, the Mumbai headquartered company is headed by CEO Mr Sharad Sanghi and employs about 500 people.

"This alliance will help Netmagic to leverage NTT Com's global network and datacentre 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 Mr Sharad Sanghi, Founder and CEO of Netmagic Solutions.

Mr Katsumi Nakata, Senior Vice-President of NTT Communications, said, "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."

Published on January 25, 2012

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