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NTT DATA Completes Dell Services Buy

Plano-based NTT DATA said Wednesday that it has closed on its acquisition of Dell Services, and will rename the business as NTT DATA Services. According to NTT DATA, the move is part of an effort to become a "top-five" global IT services leader. NTT said that John McCain, CEO of NTT DATA, will be responsible for leading the new business. Current NTT DATA Services President, Suresh Vaswani, will remain at NTT DATA through the end of January 2017. NTT DATA was advised by Wells Fargo Securities, along with J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC in the deal; Dell was advised by Citigroup. The deal, which was originally announced in March, was worth approximately $3.05 billion. Dell Services has its roots in the old Perot Systems business.