NTT Data to Buy a German Cloud Integrator for €640 Million
The purchase extends a run of mid-sized European acquisitions by Japanese IT services groups.
NTT Data agreed to acquire a Munich-based cloud integrator for €640 million in cash, its fourth European purchase in eighteen months.
Terms
The target books roughly €310 million of annual revenue, putting the deal near two times sales — below what comparable European integrators fetched two years ago.
The pattern
Japanese IT services groups have been buying European delivery capacity rather than building it, and paying for it with balance sheets that carry very little leverage by local standards. The strategic question is whether the acquired margin survives integration; the historical record across this cohort is mixed.