The deal will be closed in the third quarter of this year
Global IT and telecommunications services provider Nippon Telegraph and Telephone Corp (NTT) has entered a definitive agreement to acquire Solutionary, a company that specializes in providing managed security services.On one hand, the move will enhance Solutionary’s global expansion, and its R&D and security intelligence capabilities. On the other hand, the acquisition will enable NTT to provide its customers with enhanced security solutions.
In addition, it will reinforce the company’s position in the Managed Security Services area.
“This acquisition will further strengthen the NTT Group in becoming a trusted leader in the global ICT and security industry,” noted President and CEO of NTT, Mr. Hiroo Unoura.
“Additionally, it has become increasingly important to protect corporate ICT resources from the threat of malicious attacks, as well as to fulfill internal security policies and external compliance requirements. NTT is proud to be the leader in protecting our important clients.”
Steve Idelman, CEO of Solutionary, commented, “We are pleased to become a member of the NTT Group. NTT's global presence and group resources will strongly complement Solutionary's well established, leading edge capability in providing security services.”
He added, “The Management Team and I are very excited about the ideal strategic fit with NTT and the ability to continue delivering innovative security solutions from within our pure-play culture.
“This partnership enables the combined organizations to deliver cutting edge IT security services, solutions and analytics to a larger number of global customers, as well as to accelerate security research to protect our clients.”
The acquisition is expected to close in the third quarter of 2013. Once the acquisition is completed, Solutionary will become a wholly owned subsidiary of NTT.
The financial terms of the agreement have not been disclosed, but NTT will be paying in cash.