NTT Data Corp to buy Spain’s Everis Participaciones
31 Oct 2013
NTT Data Corp, a Japanese system integration company and a subsidiary of NTT Group, is buying Spanish information technology company Everis Participaciones, for reported 50 billion yen ($471 million).
NTT Data Corp said that at a meeting of its board of directors held today, NTT DATA resolved to acquire 100 per cent of the outstanding shares of Everis Participaciones,'' the company said in a filing with the Tokyo Stock Exchange.
Citing company sources, the Nikkei newspaper reported that NTT Data Corp will buy Everis for about ¥50 billion ($471 million) and assume debt of about ¥25 billion ($236 million), taking the total deal value to around ¥75 billion ($707 million).
Madrid-based Everis provides a wide range of IT services including consulting, system integration and outsourcing, primarily in Spain and six countries in Latin America.
Everis primarily serves clients like major banks, insurance companies and telecommunications carriers, government organisations, utility companies and major global manufacturers.
It has six near-shore and off-shore High Performance Centres in Spain and South America that have received CMMI Level 5* certification.
The company reported revenue of €591 million, or ¥79.78 billion, for the year ended 31 March, according to the Nikkei.
NTT Data is currently actively expanding overseas with the aim of becoming one of the top 5 IT services firms globally, and hopes to achieve overseas sales of over ¥350 billion ($2.4 billion) or around 25 per cent of its overall sales of $13.94 billion.
The proposed acquisition will enable NTT Data to acquire Everis' business platforms in Spain and Latin America and be able to provide comprehensive IT services, ranging from consulting to outsourcing, to its customers in these countries.
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