Japan's NTT Inc has announced the merger of most of its subsidiary companies to launch an overseas entity with revenues of $11bn (€9.7bn) called NTT Ltd.
The newly formed entity, which is headquartered in London, encompasses all of NTT's business outside Japan.
NTT claims it is made up of 28 companies including comms firm NTT Communications, its datacentre and systems integrator arm Dimension Data and its managed security services business NTT Security.
The business will be led by former Dimension Data CEO Jason Goodall.
Commenting on its launch, Goodall called NTT Ltd "a truly global technology services provider".
"We will deliver a full breadth of industry-leading products, solutions and managed services that address our clients' business needs," he said.
"We know technology doesn't stand still. And nor do we. We will continue to move our business forward to ensure we deliver solutions that are relevant for today and tomorrow."
NTT Ltd claims its headcount is over 40,000, spread across 70 countries.
NTT Inc's president and CEO, Jun Sawada, said that NTT Ltd has chosen London as its global HQ instead of Tokyo because of its "stable economy, wealth of skills and talent, diversity in population and thinking, strong infrastructure, schools and housing for global talent".
However, one of NTT Inc's major subsidiary brands - IT services provider NTT Data - will continue to operate as a separate company.
We first learned that NTT was planning to merge its operating subsidiaries around two years ago.
Speaking to CPI earlier this year, NTT Security's European boss, Kai Grunwitz, conceded that the company has struggled to communicate who it is to the market.
However, he claimed that once consolidated, NTT Ltd will be able to take on Equinix, which he named as the current market leader in datacentre and colocation.
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