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NTT Data to acquire US-based CG Group

Press Trust of India  |  Tokyo/New Delhi 

IT services provider NTT Data today said it would acquire US-based Carlisle & Gallagher Consulting Group (CG).

The company has signed a definitive agreement for the However, NTT did not divulge the financial details of the deal.

The combination of the two firms will strengthen NTT Data's ability to provide a full set of lifecycle consulting and IT services specifically for financial institutions in North America and around the world, the Japan-based NTT Group's firm said in a statement.

CG is a business and technology consulting firm that exclusively focuses on the financial services industry.

The transaction would be subject to customary closing conditions including regulatory approvals and is expected to close next quarter, it added.

"NTT DATA has more than USD 4 billion in financial services industry revenue from clients around the world and it's the largest segment of our global business," CEO of NTT Data John McCain said.

He added CG supplements its portfolio with deep financial services industry expertise and consulting services and adds blue-chip clients that include 7 of the 10 largest banks in North America.

President and CEO of CG Bob Gallagher said today's financial services companies are looking to grow revenue in a market with increasing regulatory demands and technology savvy customers and they need a partner that not only understands their industry and but can also deliver technology-enabled business outcomes.

"NTT DATA's broad IT services portfolio and expertise, along with its innovation and global reach, will enable CG to fully support our client needs," Gallagher said.

In India, the Group is present through NTT Data Global Delivery Services which is operating since 1994. It has six delivery centres in six cities and 10,000 staff.

First Published: Mon, June 08 2015. 21:22 IST