NTT Data Corp. will acquire Keane Inc., a closely held U.S. technology company, for about 100 billion yen ($1.23 billion), the Nikkei newspaper reported, without saying where it obtained the information.
Tokyo-based NTT Data, a unit of Nippon Telegraph and Telephone Corp., will purchase all the shares in Boston-based Keane, which is half-owned by a Citigroup Inc. unit and the rest by employees, the newspaper said.
The move is part of NTT Data’s efforts to increase its overseas sales to 300 billion yen by March 2013, compared with 70 billion yen for fiscal 2009.
The companies seek to reach an agreement by the end of this month, the report said. NTT Data spokesman Norihiko Sugimoto and Keane spokeswoman Tara Jantzen declined to comment.
To contact the editor responsible for this story: Takehiko Kumakura at email@example.com