NTTYY Nippon Telegraph and Telephone Corporation (PK)

TOKYO—NTT Data Corp., a subsidiary of Nippon Telegraph & Telephone Corp., Japan's largest telecommunications group, said Monday it has agreed to buy Dell Inc.'s information-technology-services division for $3.05 billion, making it one of NTT's largest overseas investment in recent years.

The deal could help NTT, whose operations span fixed-line and mobile telecommunications as well as IT services, increase its U.S. presence when it faces limited growth prospects back home.

The move would also allow Dell, which is in the midst of acquiring storage vendor EMC Corp. for tens of billions of dollars, to raise cash to help finance the EMC deal.

NTT Data is the IT services and consulting division of NTT, which also controls Japan's biggest mobile carrier, NTT DoCoMo Inc. The group hopes to raise the overseas portion of its revenue to around $22 billion by the year ending March 2018 from around $15 billion in the last fiscal year.

In 2010, NTT acquired South African IT company Dimension Data Holdings PLC for $3.2 billion and U.S. IT-services firm Keane Inc. for an estimated $1.4 billion.

Dell's IT consulting division, formerly known as Perot Systems, was founded by former U.S. presidential candidate Ross Perot and sold in 2009 to Dell for $3.9 billion.

Write to Alexander Martin at alexander.martin@wsj.com

(END) Dow Jones Newswires

March 28, 2016 06:15 ET (10:15 GMT)

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