UK-listed IT services company Dimension Data has been acquired by Japanese telecommunications operator NTT. The acquisition has been completed for $3.2bn. The deal will not affect the corporate structure of Dimension Data, with the company retaining both its business identity and its management team.

The final formalities of the deal will be completed in October, following which Dimension Data will withdraw its listing at the Johannesburg Securities Exchange and the London Stock Exchange.

As far as NTT is concerned, this deal marks its largest acquisition, beating its 2008 buying of 26% stake in India’s Tata Teleservices. The agreement is expected to spread out NTT’s global footprint further and help the company double its overseas revenues of $1.85bn in 2007, by March 2011.

The acquisition will open up the Australian, African and Middle East markets for NTT. At present, the company has data centres in 31 countries, including USA, Europe and Asia.

Having reached the boundaries of potential growth in mobile telecoms and fixed-line markets, NTT is now expected to concentrate on cloud computing services.