Hitachi Ltd said on Wednesday it will buy U.S. software company GlobalLogic Inc for US$9.6 billion, including repayment of debt, as the Japanese industrial conglomerate pivots from electronics hardware to digital services.
The acquisition is part of Hitachi's ongoing business portfolio overhaul, which includes the US$7 billion acquisition of ABB Ltd's power grid business last year and a series of divestitures of its domestic hardware subsidiaries.Hitachi's stock tumbled 7per cent on the Tokyo Stock Exchange - the biggest fall in more than a year - on the big ticket deal.
Founded in 2000, GlobalLogic has more than 20,000 employees in 14 countries and offers software engineering services to 400 active clients in industries including automotive, healthcare, and finance.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hedge fund fallout wipes over US$9 billion from market value of Credit Suisse, NomuraShares in Nomura and Credit Suisse fell further on Wednesday, with a collective US$9 billion wiped off their market value so far this week as the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Under Armour settles SEC charges for US$9 millionSportswear company Under Armour has settled with the Securities and Exchange Commission and agreed to pay US$9 million in fines related to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US to send more than US$100 million in COVID supplies to IndiaThe United States is sending supplies worth more than US$100 million in the coming days to India to help it fight a surge of COVID-19 cases, the ... money+Corrupt government=disaster can we stop indulging in tragedy porn? the caption could be very well be about supplies and not dead body. Teach your Quad member to lockdown.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Apple boosts US investment pledge to US$430 billionSAN FRANCISCO: Apple announced Monday (Apr 26) it plans to boost its investment plans in the United States to US$430 billion over the next five ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US trade deficit hits record US$74.4 billion in MarchThe US trade deficit surged to a record US$74.4 billion in March as an improving US economy drove purchases of imported foreign goods.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »