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NTT Data to make Itelligence wholly-owned for $78.5 mln

TOKYO | Mon Oct 29, 2012 3:50am EDT

TOKYO Oct 29 (Reuters) - Japan's NTT Data Corp said on Monday it will launch a tender offer for all remaining shares in German IT consulting unit Itelligence AG for 10.80 euros per share, in a deal worth 60.7 million euros ($78.5 million).

NTT Data said it aims to make Itelligence a wholly owned subsidiary. NTT Data now owns an 81.3 percent stake in the firm and NTT Communications owns 8.2 percent.

Itelligence last closed at 7.50 euros.
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