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NTT Data, Microsoft, Compaq Fund E-commerce Venture

Time: 10:15 EST/15:15 GMT | News Source: Reuters | Posted By: Viper

NTT Data Corp, Microsoft and Compaq Computer's Japanese unit will form an electronic commerce company in August to provide software for firms, the Nihon Keizai Shimbun reported Thursday. NTT Data, a subsidiary of dominant telecoms carrier Nippon Telegraph and Telephone Corp, will take a majority stake in the company, which will be capitalized at $3.21 million. Microsoft and Compaq are likely to split the remaining stake equally, the business daily said. The new company, which will aim for three billion yen in sales in the 2003 financial year, will offer software that allows other companies to sell their goods and services online using software that manages inventory, orders and settlement.

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