NTT Data To Buy Dell's IT Services Unit For $3 Billion
Japan's NTT Data said on Monday it has agreed to buy Dell's information technology consulting division for over $3 billion to expand in North America. The Japanese company said it would pay around $3.05 billion.
The sale will offer NTT Data a bigger foothold in the United States, where it is looking to expand in healthcare IT, insurance and financial services consulting.
The move will allow Dell to trim some of the $43 billion in debt it is taking on to fund its pending cash-and-stock acquisition of data storage provider EMC, a deal worth close to $60 billion.
Dell's acquisition of EMC, which is backed by founder and Chief Executive Michael Dell as well as private equity firm Silver Lake Partners, is subject to approval by EMC shareholders.