SoftBank Corp buys 23% in Malaysian telco Axiata’s AI unit for $60m

Photo: Bloomberg

Malaysian telecommunications firm Axiata Group Bhd announced on Tuesday that Japan’s SoftBank Corp will invest $60 million in its digital analytics and artificial intelligence (AI) unit ADA for a 23% stake.

Following the investment, the valuation of ADA, which designs and executes integrated digital, analytics, and marketing solutions for its clients, stands at 1.07 billion ringgit ($260 million).

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