NTT Data acquires majority stake in Matsushita mobile phone unit

3 Jul 2008

NTT Data, a division of Nippon Telegraph and Telephone (NTT) which builds computer networks and provides maintenance services, is acquiring a 60% stake in a mobile phone software subsidiary of Matsushita Electric Industrial, Japan’s second largest handset manufacturer. Bloomberg reports that NTT Data is purchasing the stake from Matsushita’s mobile phone arm Panasonic Mobile Communications, which currently owns 100% of the unit. The NTT subsidiary hopes the acquisition will triple its software sales to JPY30 billion (USD282 million) by 31 March 2011. No financial details of the deal were disclosed.

Japan, NTT (NTT East & NTT West), NTT Data