IIJ purchases AT&T Japan subsidiary

1 Jun 2010

Internet Initiative Japan (IIJ), an internet access and network solutions provider in Japan, has signed a stock purchase agreement with AT&T Japan, under which it will acquire the stock of the new company established by AT&T in Japan. Through the acquisition, IIJ will make AT&T Japan a 100% wholly owned subsidiary and take over the latter’s business – the delivery of domestic network outsourcing services (e.g. WAN services) to approximately 1,600 domestic corporate customers. IIJ is scheduled to acquire the stock of the new company on 1 September 2010 by using its own cash and new short-term bank borrowings. The date of the stock purchase may change subject to changes in the market, it added. AT&T Japan provides global connectivity services and managed applications to customers business in Japan, with an advanced portfolio of hosting and other value added services activities such as mobile enterprise applications, cloud computing, application management, security, Telepresence and unified communications.

Japan, Internet Initiative Japan (IIJ)