KUALA LUMPUR — SoftBank and Axiata Group announced on Tuesday an investment of $60 million by the Japanese company in ADA, a digital analytics, artificial intelligence and marketing company in the Malaysian telecom’s conglomerate.
The investment is aimed at expanding and speeding ADA’s analytics, data and AI digital marketing business in Asia, Axiata and SoftBank said in a joint statement. ADA currently serves 1,300 customers in the region.
With the investment, SoftBank will hold a 23.07% stake in ADA, which has a valuation of 1.07 billion ringgit ($260 million). Axiata Digital Services remains ADA’s majority shareholder at 63.47%.
Japan’s Sumitomo owns a 13.46% stake.
SoftBank Corp. Representative Director and Chairman Ken Miyauchi said the ADA investment enables his company to embark on its “Beyond Japan” business strategy.
“We will utilize ADA’s know-how in data and AI, and its support structures,” Miyauchi told a virtual news conference. “And by closely collaborating with ADA, I’m confident we can propose new digital marketing solutions to companies in Asia and help support their digital transformation.”
The investment is also in line with SoftBank’s growth strategy announced during its initial public offering in 2018, he said.
“It’s a strategy that builds on our core telecom business so we can expand into new business areas,” Miyauchi said. “Since then, I have expanded our portfolio of non-telecom businesses in Japan with mobile payments operator PayPay, internet…