NTT Communications Corp. said Monday it has agreed to acquire all of Pacific Crossing Ltd. at a price of more than ¥10 billion to expand its underwater cable network to meet growing data communication needs, particularly between Japan and the United States.
The unit of telecommunications giant NTT Corp. said it plans to complete the acquisition by mid-September. Pacific Crossing privately owns an undersea fiber optic ring network connecting the U.S. and Japan.
“We had been purchasing undersea cables when the need arose, but we’ve decided to purchase a whole company in view of future growth in information and Internet use,” NTT Communications spokesman Koji Yamamoto said.
Pacific Crossing, registered in Bermuda, operates a cable measuring 21,000 km with a capacity of 3.2 terabits per second.
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