Japan's Mitsui & Co. has announced its plan to acquire a stake in Axiata Group's data and artificial intelligence (AI) unit for $58 million, which would value the company at $550 million. Axiata, a Malaysian telecommunications company, stated that this deal will allow Mitsui to hold an effective 12.69% stake in Axiata Digital & Analytics. Additionally, Mitsui's stake in Axiata Digital Services will increase to 20% from the previous 3.29%.
ADA's Digital Reach Expands with Investment
According to Axiata, this investment from Mitsui will support ADA's efforts to expand its digital reach and drive digital and data transformation in the region. The company is confident in broadening its strategic partnership, believing it will enhance ADA's expertise in AI and data analytics. Vivek Sood, CEO of Axiata, expressed that this collaboration is a significant step towards generating greater long-term value for stakeholders and promoting sustained growth in this field.
Notable Shareholders of ADA
In addition to Mitsui, ADA's other shareholders include Softbank and Sumitomo, according to Axiata.
Mitsui Strengthens Digital Marketing Strategy
Toru Matsui, Mitsui's senior executive managing officer, mentioned that this investment aligns with the company's strategy of developing digital marketing business clusters in Asia.
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