NTT to buy Dell services division for $3.05 billion

There's not a lot of news today due to the Easter holidays but one thing that did the press today is that NTT Data, the IT services firm of Japanese telecom giant NTT, is buying Dell Systems, the IT services division of Dell, for $3.05 billion.

Dell is reportedly selling the division because its needs cash to finance its $67 billion takeover of EMC. Word on the street is that Dell wanted more for its IT services division but failed to find an alternative buyer.

But $3.05 billion doesn’t seem much. First, Dell acquired Perot Systems (which later became Dell Systems) for $3.9 billion in 2009. Second, Dell wanted more than $3.05 billion. Rumor has it that Dell was asking for $5 or $6 billion. So it looks like Dell didn’t have enough time to find another potential buyer to outbid NTT.

On the other side of the equation, NTT wants Dell Systems because Japan-based NTT is trying to expand its client base to new regions. Dell Systems is mostly operating in North America in the health-sector.