© Reuters. FILE PHOTO: SoftBank Corp’s logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon
By Liz Lee
KUALA LUMPUR (Reuters) – Japan’s SoftBank Corp will invest $60 million for a 23% stake in the digital analytics and artificial intelligence arm of Malaysian telecoms firm Axiata Group Bhd, said two sources familiar with the matter.
The acquisition values the subsidiary, ADA, at about $260 million, the sources said, declining to be named as the announcement is not yet public.
A spokeswoman from Axiata and a spokesman from SoftBank declined to comment.
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