Nippon Telegraph and Telephone (NTT), a New York-listed phone operator in Japan, has agreed to acquire its corporate venturing unit’s portfolio company OpSource, a US-based provider of software for cloud computing systems, for an undisclosed amount.
NTT is using its Dimension Data subsidiary to acquire OpSource in order to create a Cloud Solutions Business Unit.
Founded in 2002, OpSource had previously raised $61m from NTT, Atel Ventures and Intel Capital, the corporate venturing units of leasing company Atel Capital Group and chip maker Intel respectively, and venture capital firms Fuse Capital, Crosslink Capital, Key Venture Partners and Artiman Ventures.
The most recent disclosed funding was $4m in August 2009 by Atel Ventures, six months after NTT led OpSource’s $10m series E round.
The $15m D round in June 2007 had taken OpSource’s then-total to $47m, the company said at the time.