NTT Communications to Acquire 80% Stake in RagingWire Data Centers
NTT Communications Corporation (NTT Com), the ICT solutions and
international communications business within NTT (NYSE: NTT), and
RagingWire Data Centers (RagingWire), a leading provider of data center
services in the United States, jointly announced that NTT Com will
acquire approximately 80% equity interest in RagingWire for $350 million
(USD). The acquisition follows a definitive agreement reached with
RagingWire shareholders. RagingWire has annual revenues of approximately
$85 million (USD), and a compounded annual growth rate of 30%.
RagingWire's founders and management team will continue to operate the
company as a platform under the RagingWire brand and maintain a minority
interest in the company.
The acquisition will