The long-rumored acquisition of Dell (DELL) subsidiary Perot Systems by Japanese company NTT Data was finally announced yesterday to the tune of approximately $3.05 billion. The IT consulting asset founded by billionaire and once presidential candidate Ross Perot will significantly increase NTT Data’s North American footprint and strengthen its presence in the healthcare, manufacturing, banking and insurance sectors.

In October of last year, Dell announced its intention to acquire EMC for approximately $67 billion, the largest tech acquisition of all time. In comparison, the Perot Systems deal is small. Still, some experts say, Dell could certainly use every little bit of extra cash it can get as it ramps up to complete the acquisition later this year.

“There are few acquisition targets in our market that provide this type of unique opportunity to increase our competitiveness and the depth of our market offerings,” said John McCain, CEO of NTT Data, in the announcement. “Dell Services is a very well-run business and we believe its employee base, long-standing client relationships, and the mix of long term and project-based work will enhance our portfolio.

Dell acquired Perot Systems in 2009 for $3.9 billion, so technically it lost money on the deal with NTT. While it’s true that Dell has changed the offerings of the IT services asset somewhat, many still see the lower price tag as a sign of a lack of confidence in traditional technology services in an era of computing dominated by the cloud.

NTT Data acquired US IT services firm Keane for $1.4 billion in 2010. In the last five years, it has spent the equivalent of $547 million on acquisitions outside of Japan in an effort to combat a sluggish Japanese market. In 2010, its parent company, NTT Group, acquired Dimension Data for $3.2 billion. Recently, NTT Group said it hopes to grow its overseas revenues to $22 billion by 2018.