Nippon Telegraph and Telephone Corporation (“NTT”), one of the largest global telecommunications service providers and Dimension Data Holdings Plc (“Dimension Data”), a global specialist IT services and solutions provider, announced that they have reached agreement on the terms of a cash offer to be made by NTT for the entire issued and to be issued ordinary share capital of Dimension Data for approximately GBP 2.1 billion, unanimously recommended by both Boards of Directors.

Commenting on the acquisition, Satoshi Miura, President and CEO NTT said, “we are delighted that the board of directors of Dimension Data has unanimously agreed to support our offer for Dimension Data. By leveraging the complementary strengths of both companies, we are confident that we will provide end-to-end, global-one-stop and high quality ICT services. Dimension Data and NTT share the common vision to create new services and values to succeed in the coming age of cloud computing. Our combined strength will allow us to accelerate execution of our strategies to achieve our shared vision. We have established a strong relationship between the management of Dimension Data and that of NTT. We are looking forward to welcoming the management and employees of Dimension Data to the enlarged NTT Group.

“Together, NTT and Dimension Data will define a new industry standard for IT service quality, delivery, and support. NTT’s network carrier capabilities and assets coupled with Dimension Data’s global system integrator expertise create an incredibly powerful and unprecedented combination of capabilities and skills. The combined companies will hold a strong competitive position serving global corporations’ moving to managed infrastructure services and cloud computing”, said Jeremy Ord, Executive Chairman, Dimension Data.

Brett Dawson, CEO of Dimension Data concluded, “NTT recognises the value of Dimension Data’s entrepreneurial culture and business model; our operational processes, brands, and methodologies will all remain. NTT provides a world class, IT and communications platform globally while Dimension Data brings expertise and capabilities in specialist managed IT infrastructure and services. We are very excited to begin collaborating with NTT to expand and deliver this joint value to our clients.”