Japanese-based IT services company, NTT Data, and US-based IT services firm, Keane International, have entered into a definitive merger agreement under which Knight Subsidiary, a wholly-owned subsidiary of NTT Data, will merge with Keane International, resulting in Keane becoming a wholly-owned subsidiary of NTT Data.
Keane International is majority owned by Citigroup Venture Capital International Technology Holdings (CVCI).
Keane said it will continue to be headquartered in Boston and provide a range of IT services related to custom application development and management, enterprise application services, infrastructure solutions, and business process outsourcing to respected companies and government agencies in the US as well as public and private sector clients in Europe and Asia Pacific. I
The transaction is part of NTT Data’s strategy to accelerate its globalisation and boost its global portfolio and overseas presence.
NTT Data president and chief executive officer Toru Yamashita said this transaction with Keane will allow them to provide comprehensive IT services including system development and management of mission critical systems in North America.
Keane president and chief executive officer John McCain said the company fully intends to capitalise on the size and scale of NTT Data through not only serving their existing customers better with expanded infrastructure and enterprise application offerings, but also being able to compete and participate in larger, more significant deals with their customers and prospects given their global reach.
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Terms of the deal were not disclosed. The transaction is expected to close in December, 2010, subject to approvals.
