Hitachi takes over Malaysian data analysis software firm FusioTech
KUALA LUMPUR, NNA - Hitachi Ltd. has taken over a Malaysian artificial intelligence and data analytics firm as part of efforts to expand its information and technology business in Asia.
Hitachi made FusioTech Holdings a wholly owned subsidiary on April 1, the Japanese company said in a statement on Friday. The new firm, established in February, succeeds Fusionex International Plc.
Hitachi did not disclose the details of the deal such as the transaction value.
Since establishing in 2005, Fusionex International, a big data and AI technology market leader in Asia, has offered cloud-based subscription software services in the manufacturing, distribution, logistics, e-commerce and financial sectors and has built a customer base of over 11,000 small and medium firms in the region, the statement said.
Through the investment, the Japanese electronics-to-infrastructure giant obtains the expertise of Fusionex's data scientists and AI engineers as well as know-how that can be used in obtaining and retaining customers, according to the statement.
Hitachi plans to make aggressive investments in the IT sector with its focus on North America and Asia as part of a three-year management plan that runs through the fiscal year ending in March 2022. (NNA/Kyodo)