Century Tokyo Leasing (CTL) has agreed to buy a 35% stake in global IT lessor CSI Leasing.
The transaction is expected to close by 31 March 2015 and CTL will assume two seats on CSI’s board of directors. The financial terms of the deal have not been disclosed.
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CSI and CTL have transacted business together since 2003 and engaged in joint marketing efforts since 2012.
According to the companies, their strategic alliance will complement CSI’s presence in the Asia-Pacific region and other markets. In addition it will allow CTL to access CSI’s platforms around the world.
CSI founder and chairman, Ken Steinback said: "We will be working together with a strong and creative team from CTL who appreciates the strength and durability of our customer-focused business model. The entire CSI marketing and back office teams remain in place and it is business as usual for our customers."
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