Japanese firm to buy South Africa’s IT company

Pretoria, 15 July-(ANA)-Nippon Telegraph and Telephone (NTT) says it will buy the South African IT firm Dimension Data in £2.12bn ($3.24bn) deal.

The move - the biggest purchase yet in sub-Saharan Africa by a Japanese company - will give NTT exposure to fast-growing Africa.

Dimension also provides IT-related services in the United States, Europe and Asia.

NTT will finance the acquisition through cash and debt.

Dimensions shares jumped by 20% on the Johannesburg market.(ANA)

FA/ANA/15 July 2010------