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July 6, 2008

Late Friday, NTT Data announced plans to acquire a 60 percent stake in Panasonic Mobile Communications, the handset software unit of Matsushita Electric.

Financial details of the deal weren't disclosed to the media.

NTT Data said that embedded software is the “growth engine” in its medium-term management plan, and it hopes to expand Panasonic Mobile’s business to “a broader customer base with its considerable experience and expertise in the field of embedded software.”

In a statement, NTT Data said “through this alliance, Panasonic Mobile and NTT Data intend to form a new partnership and establish a broader cooperative structure to enhance the corporate values of all three companies involved, including PMSE.”

Panasonic Mobile said it hopes the capital alliance will improve on the software unit's product quality and cost competitiveness in the field of mobile phone software.

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Source: NTT Data Inc.