(Ping! Zine Web Hosting Magazine) – Indian-based data center and web hosting provider Netmagic Solutions was recently acquired with telecom provider NTT Communications set to purchase a majority stake of 74% in the company.
Financial terms of the agreement were not revealed in a press release concerning the matter.
Among its services, Netmagic provides dedicated hosting, colocation, load balancing and firewall protection.
While the deal has yet to receive official approval, the move would give NTT Communications expanded services. Seven data centers are currently operated by Netmagic. It would also represent the NTT Communication’s first presence in India.
NTT Communications currently operates 123 facilities worldwide, according to the company’s website.
Discussing the matter in a press release NTT Communications Senior VP Katsumi Nakata stated, “This acquisition enhances our global status as the ICT partner of choice, including now in India, one of the key areas of our future growth.”
“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,” Nakata continued.
According to NTT Communications, last year Frost & Sullivan awarded Netmagic Solutions with the honor of India’s DataCenter Service Provider of the Year. For more information on the matter, view a press release here (ntt.com).