NTT Communications Buys 80% Stake in RagingWire; Akira Arima, George Macricostas Comment

acquisitionNTT Communications (NYSE: NTT) has moved to grow its data center portfolio by purchasing an 80-percent ownership stake in RagingWire Data Centers for $350 million.

RagingWire’s founders and management team will continue to run the company and hold a minority interest in the business, NTT Com said Monday.

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Akira Arima, CEO of NTT Com, said the company intends to deliver services to enterprise, government and Internet firm clients through its expanded data center and cloud services.

NTT Com will work design and operate data center facilities using RagingWire’s patented technologies.

“As part of the NTT family of companies, we plan to accelerate our build plan in North America, extend our data center platform globally, and add even more strategic value to our customers, ” said George Macricostas, co-founder and CEO of RagingWire.

NTT Com maintains more than 2.5 million square feet of server facilities worldwide and RagingWire operates 650, 000 square feet of data centers in Sacramento, California and Virginia, all of which are being expanded.

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