NTT Secures Backing for $16.3 Billion Deal to Take Over AI Arm

Nippon Telegraph and Telephone Corp. said it has secured enough bids to buy NTT Data Group Corp., with the deal worth ¥2.37 trillion ($16.3 billion) expected to boost its AI ambitions and simplify the corporate structure.

The Japanese company will start the settlement on June 26, it said in a statement Friday. NTT, which owns about 58% of NTT Data, had last month offered ¥4,000 for every share it doesn’t already own in the company with plans to take it private.