NTT Secures Backing for $16.3 Billion Deal to Take Over AI Arm

Nippon Telegraph and Telephone Corp. said it has secured enough bids to buy NTT Data Group Corp., with the deal worth ¥2.37 trillion ($16.3 billion) expected to boost its AI ambitions and simplify the corporate structure.

The Japanese company will start the settlement on June 26, it said in a statement Friday. NTT, which owns about 58% of NTT Data, had last month offered ¥4,000 for every share it doesn’t already own in the company with plans to take it private.

The takeover of NTT Data, one of the world’s largest data center operators, would put artificial intelligence at ...