SoftBank investing RM250m in Axiata subsidiary

Axiata announced the formation of an alliance with SoftBank while the latter's investment will enable ADA to expand and accelerate the group’s analytics, data and AI digital marketing business in the region.

KUALA LUMPUR: SoftBank Corp will invest RM250mil (US$60mil) in Axiata Group Bhd’s subsidiary ADA (held by Axiata Digital Services) and take up a 23.07% stake.

In a joint statement on Tuesday, Axiata announced the formation of an alliance with SoftBank while its investment will enable ADA to expand and accelerate the group’s analytics, data and artificial intelligence digital marketing business in the region.