Electronics retailer Nojima Corp. is in talks to acquire Nifty Corp.’s internet service provider for individual customers, it was learned Saturday.
Nojima and Fujitsu Ltd., which fully owns Nifty, aim to reach a definitive agreement on the acquisition by the end of March, informed sources said.
The envisaged deal is estimated to be valued at ¥25 billion.
Nojima hopes to expand its consumer electronics sales and revenues from product support services by acquiring Nifty’s customers, the sources said.
Fujitsu took full control of Nifty in July 2016. It has been exploring the possibility of selling Nifty’s internet business for individual customers while retaining its cloud computing service for corporate customers.
As of the end of March 2016, Nifty had about 1.34 million contracts for its individual internet service.
Other companies including KDDI Corp. entered the race for Nifty’s individual service, but Nojima presented a better bid in terms of price and is in talks with Fujitsu, according to the sources.
The internet service industry in Japan is going through a realignment, with KDDI announcing an agreement in December to acquire Biglobe Inc.