South African arm of Japan's NTT acquires French firm

JOHANNESBURG Tue Feb 4, 2014 8:08am EST

JOHANNESBURG Feb 4 (Reuters) - The South African unit of Japan's NTT Corp said on Tuesday it had bought French IT company NextiraOne for an undisclosed amount, as part of a plan to double its annual revenue by 2018.

Dimension Data said in a statement it had acquired privately held NextiraOne, expanding its European presence to 16 countries from ten.

The deal also increases Dimension Data's global reach to 58 countries and will give it nearly 1,900 permanent employees in areas such as networking and application development.

The company said last year it aims to double its yearly revenue to $12 billion by 2018.

NTT, the world's third-largest telecommunications company by revenue according to Thomson Reuters data, acquired Dimension Data in 2010.

Shares of NTT closed down 4.3 percent at 5,132 yen in Tokyo before the announcement, hit by a broad sell-off that sent the benchmark Nikkei index down more than 4 percent. (Reporting by David Dolan; Editing by Stella Mapenzauswa)