NTT DATA to pick majority stake in India's Atom Technologies for $9.24 million

NTT DATA said it would acquire 55.35% stake in Mumbai-based Atom Technologies, Indian payment services major, for a total of $9.24 million.

NTT's foray in the payments market in India is said to be a key strategic decision to expand in this business across Asia. The Tokyo-headquartered IT services major has acquired companies in payment sector in Malaysia, Vietnam, Hong Kong, and Thailand.

Atom, owned by 63 moons technologies, is India’s first company to have created a multi-channel payments platform covering POS, Online, IVR as well as Mobile, said NTT in a press release.


The company said this partnership is “a strong endorsement of the rapid strides made by the two countries in the digital sector and will help Atom to leverage NTT DATA’s presence across the globe”.

“We believe Indian payment market has huge potential, pillared by consistent economic growth and the government’s strong initiative toward digital payments. Our payment business in Japan as well as South East Asia will help Atom for providing cross-border payment services to their merchants. Moreover, our customer base and development capability will allow Atom to upward its growth-trajectory,” Isao Arima, Senior Vice President, NTT DATA, was quoted saying on this development.

Dewang Neralla, CEO, Atom Technologies, said the company would look forward to greater synergies and to implement NTT DATA’s global learning into the Indian markets and thereby further enhance the payments ecosystem here.