Japan’s NTT acquires 55% stake in 63moons’ subsidiary Atom for $9 mn

Tokyo-headquartered NTT Data, a leading IT services provider, has acquired 55.35 per cent stake in Atom Technologies, a subsidiary of 63moons technologies, for an aggregate consideration of $9.24 million (Rs 650 million). Incorporated in 2005, Atom Technologies is a leading payments service provider focused on creating an end-to-end payments ecosystem* over the internet, IVR, mobile and point-of-sale (PoS) through online and offline platforms. At present, the company processes more than 150 million transactions worth $10 billion across a merchant population of over 150,000. This signals NTT’s foray into the Indian payments market. NTT is one of the largest IT companies globally with revenues of $19 billion. The foray into the payments market in India is a key strategic decision for the $19-billion company, which has a pan–Asian focus on payments and has acquired companies in Malaysia, Vietnam, Hong Kong, and Thailand, and is expected to play a pivotal role in its expansion strategy.

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