On May 11, Malaysian telecommunications company Axiata announced an investment of USD 60 million from SoftBank, towards its digital analytics and artificial intelligence arm ADA. Under the agreement, Softbank will own 23 percent of ADA shares. The latter will expand operations in South and Southeast Asia in partnership with SoftBank. As the owner of 375 million proprietary consumer data, ADA is to develop AI models with precision targeting, focusing on content analytics and data platforms. In a similar deal, Japanese conglomerate Sumitomo Corporation had put USD 20 million in ADA in 2018.
Softbank Invests USD 60 Million in the AI Arm of Malaysian Telecom Company Axiata
On May 11, Malaysian telecommunications company Axiata announced an investment of USD 60 million from SoftBank, towards its digital analytics and artificial intelligence arm ADA.
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The recent investment by SoftBank in Axiata’s digital analytics and AI subsidiary, ADA, marks a significant strategic move for both companies. With a substantial USD 60 million injection, SoftBank acquires a 23% stake in ADA, signaling a robust endorsement of ADA’s capabilities and growth potential in the realm of AI and digital analytics. This partnership is poised to facilitate ADA’s expansion across South and Southeast Asia, leveraging SoftBank’s extensive network and resources.