New synergy: The joint venture will invest in initiatives that will integrate SoftBank's investment expertise and Foxconn's advanced manufacturing and technology services.
TOKYO/TAIPEI: Japan's Softbank Group and Taiwan's Foxconn will soon begin operating a joint venture that deepens ties between two of Asia's biggest technology companies, they said on Friday.
The move will give Foxconn, formally known as Hon Hai Precision Industry Co, a 54.5% stake in one of Softbank's existing subsidiaries for US$600mil (RM2.6bil) and comes as both groups step up investments in the technology sector and consider expansion in the United States.
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