Softbank Corp invests $60 mln in Axiata’s ADA unit for 23% stake

KUALA LUMPUR: Malaysian telecoms firm Axiata Group Bhd on Tuesday said Japan’s SoftBank Corp will invest $60 million in its digital analytics and artificial intelligence arm.

Softbank will hold a 23% stake in the unit, ADA, following the investment that values the unit at $260 million, Axiata said in a statement.

With the investment, ADA will aim to expand its presence in South and Southeast Asia, Axiata said.