Japanese telecoms and IT giant apparently didn’t get the memo that the UK isn’t worth investing in anymore because it’s basing an $11 billion business here.
NTT Ltd has been formed by combining networking and data centre company NTT Communications, South African IT services firm Dimension Data and the self-explanatory NTT Security into one great big IT firm. It actually brings together 28 different sub-brands in an act of consolidation that was clearly overdue and will employ 40,000 people in 70 countries.
The choice of London as the location of NTT Ltd’s headquarters is a timely endorsement of the continuing economic vibrancy of the UK. For the last few years UK politics has been dominated by Brexit and the insistence by those who want to remain part of the European Union that the UK is useless without it. This development will presumably be lamented, or at the very least ignored, by them.
“Going forward, we will accelerate our execution as one NTT in order to contribute to a smarter and better world through digital transformation,” said Jun Sawada CEO of NTT Corporation. “We are also excited to confirm that our global headquarters for NTT Ltd will be in London and that our commitment to the UK remains extremely strong.
“We considered several locations as the headquarters for NTT Ltd and made a deliberate decision to choose London. It has many benefits, including a stable economy, wealth of skills and talent, diversity in population and thinking, strong infrastructure, schools and housing for global talent moving to the city. In short, it’s a great city to live and work in, and we’re excited that we are making it the home for our new business.”
The broader significance of such a strong endorsement of the UK economy was not lost on the government. “Britain has a long standing and proud reputation as a global tech leader and it’s fantastic that NTT Ltd. has chosen London for its global headquarters,” said Prime Minister Theresa May. “A key part of our modern Industrial Strategy is to put the UK at the forefront of the tech and data revolution, and they will join many other world-leading companies who call Britain home.”
This move first been announced last year, with NTT Ltd to be run by the former CEO of Dimension Data Jason Goodall, perhaps indicating a particular focus on Africa. The broader narrative, however, is the tried and tested ‘end-to-end solution provider’ one, emphasising the increased blurring of the line between telecoms and IT. Here’s a vid to show how serious they are about it.