NTT to launch Israeli subsidiary
NTT Corporation (NTT) confirms the establishment of a new subsidiary in Israel.
The new business is being developed to leverage cutting-edge Israeli technology into the NTT Group and to capitalise on new business opportunities.
Due to go live in July 2021, the new subsidiary called NTT Innovation Laboratory Israel Ltd, will be led by president & CEO, Noa Asher (pictured). Before her appointment, Asher served as Economy Minister of the Embassy of Israel in Japan. Prior to this, she also served as Ministry of Economy, Trade and Industry of Israel.
Once operational, the new business will create an ecosystem and support the creation of new businesses by maximising on synergies between Israeli companies and the NTT Group.
Specifically, NTT Innovation Laboratory Israel will develop new businesses by strengthening relationships with start-ups, venture capital firms, and global companies in Israel.
At present, Israel is home to some of the world's most advanced technology start-ups and houses many global companies' R&D operations.
The details of the new company are as follows:
Company name: NTT Innovation Laboratory Israel Ltd
Location: Tel Aviv, Israel
Representative: Noa Asher
Business: Intelligence, surveys, research, information provision services, consulting related to global technological trends
Shareholders and ownership ratio: NTT, 100%
Current number of employees: 5
Establishment: July 2021
In related news, February saw NTT Ltd complete the launch of its fifth data centre in Malaysia, located within the company’s Cyberjaya campus.
The new data centre, known as Cyberjaya 5 (CBJ5), spans across 107,000 square feet and is designed to meet the requirements of hyperscalers and enterprises.
CBJ5 has 6.5MW of critical IT load and it boasts a Tier IV1 modular design. The data centre also has a cooling wall system.