NTT Data Corp., the network-services unit of Japan’s largest phone company, agreed to buy Italy’s Value Team SpA to expand in Europe and the growing Latin American market.
Value Team, which generated revenue of 308 million euros ($449 million) last year, will provide a “bridgehead” with Brazil to tap Latin American customers, Tokyo-based NTT Data said in a statement, without disclosing financial terms. NTT will spend 250 million euros for the purchase, the Nikkei newspaper reported today. Norihiko Sugimoto, a spokesman at NTT Data, declined to comment on the amount.
President Toru Yamashita plans to spend as much as 300 billion yen ($3.7 billion) on acquisitions to quadruple sales outside Japan over three years. The Value Team agreement follows the acquisition of Boston-based Keane International Inc. in December and is NTT Data’s seventh overseas deal in the past year, according to data compiled by Bloomberg.
“This acquisition has a positive impact on NTT Data’s overseas expansion plan,” Hidemasa Mizumoto, an analyst at Mizuho Investors Securities Co. in Tokyo, said by phone today. “Value Team SpA’s business locations in South America will help NTT Data to obtain more overseas sales.”
NTT Data rose 0.7 percent to 251,800 yen as of 2:02 p.m. on the Tokyo Stock Exchange, while the benchmark Nikkei 225 Stock Average fell 0.1 percent. NTT Data shares have fallen 11.5 percent in 2011.
Value Team, which offers consulting and system engineering services to Italy’s telecommunications, manufacturing and financial companies, has more than 300 customers in the telecommunications, financial and manufacturing industries, according to the statement. The Milan-based company employs almost 3,000 people, it said.