Japanese trading house Mitsui will take a 12.69% stake in Axiata Group’s digital and analytics unit, the Malaysian telecommunications conglomerate said on Thursday.
Mitsui will invest $58 million in Axiata Digital & Analytics (ADA) through ADA’s holding company, Axiata Digital Services.
Mitsui’s latest investment currently values the digital and analytics firm at $550 million.
“Through this additional investment, Mitsui will provide ADA’s marketing solutions and data analysis services to Mitsui’s important partners and investees to help accelerate their marketing DX efforts,” the Japanese firm said.
Mitsui will also acquire an additional 16.7% stake in Axiata Digital Services, beefing it up to 20%.
Reuters