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Japan's Nippon Telegraph and Telephone Corporation (NTT) has reached an agreement to acquire 100% of its outstanding shares in Italian IT services provider Value Team, NTT said in a press release without reporting a price tag.
The Value Team acquisition is to be made through subsidiary NTT Data Europe (NDEU). Through the partnership NDEU will expand its geographic presence in Europe and aim to gain foothold in Brazil.
One of NDEU's main strategies has been expanding in Europe, as well as establishing itself as a pan-European player. According to NTT managing director Kazuhiro Nishihata, the deal will help NDEU expand its product offering to various European blue chip customers.
Value Team, established in 2004 by consultancy Value Partners, is one of the leading ICT players in Italy. It offers business critical IT services to companies in Europe and Brazil.
The company covers IT consulting, system integration, application management and outsourcing, and provides support to companies in the banking, insurance, telecoms, media, and manufacturing and distribution sectors.
NTT expanded its Latin American presence last October, when the company finalized its acquisition of South African IT services provider Dimension Data for 2.1bn British pounds (US$3.46bn). Regionally, Dimension Data has presence in Mexico and Brazil, and in April last year it entered Chile through the acquisition of 51% of local IT systems integrator Magenta.