NTT DATA, a leading IT services provider, headquartered in Tokyo, has announced that it has entered into an agreement to acquire a majority stake in Atom Technologies, India’s leading end to end payment services owned by 63 moons technologies.This earmarks NTT DATA foray into the rapidly expanding Indian payments market and the company aims to strengthen its business presence in the South Asian markets.
Commenting on this development, Isao Arima, Senior Vice President at NTT DATA said “We are excited about this deal with Atom, which has substantial presence in both brick-and-mortar and online payment sector in India. Also appreciate 63 moons as it has been supporting Atom for building the business and has accepted the deal. 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. We commit on contributing Indian society with better payment services by partnering with Atom.”
Rajendran, MD & CEO of 63 moons technologies said “Atom Technologies, is one of the pioneering institutions of 63 moons started in 2005 and has been part of the Group’s ecosystem. It is one of the first companies in India to offer online digital payment services. The company has grown exponentially over the years and has great potential to grow further. In line with the strategy of 63 moons to exit from the market ecosystem, we were looking for a reliable partner that would elevate our institution to greater heights.”
Rajendran further stated that 63 moons has been fortunate in identifying NTT DATA as a partner which is a part of the NTT Group, a Fortune 100 company and 63 moons is confident that this partnership will positively benefit Atom Technologies, while it continues to remain a significant shareholder. This association with NTT DATA clearly demonstrates Atom Technologies’ technical prowess, capabilities and more importantly the confidence that market players have in the business practices of 63 moons.
Dewang Neralla, CEO, Atom Technologies said, “It gives me great delight to announce the deal with NTT DATA. At Atom, it has always been our endeavor to offer world-class payment services to our customers and our association with NTT DATA will help us evolve into our next phase. This acquisition endorses the immense value created by Atom and its team across the years. We look forward to greater synergies and to implement NTT DATA’s global learning into the Indian markets and thereby further enhance the payments ecosystem in the country.”
