Mitsui invests US$58 Million in ADA

Global trading and investment company Mitsui has invested US$8 million into Axiata Digital & Analytics (ADA) through ADA's holding company, Axiata Digital Services (ADS).

Mitsui’s additional investment has established a watermark valuation of US$550 million for ADA, reflecting the company's continued growth and innovation in the digital and data transformation domain, it said. 

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On the strength of the investment, ADA is set to broaden its digital reach and reinforce its commitment to advancing digital and data transformation in the region.

Mitsui has been working closely with ADS and ADA since their initial investment in 2019, and is now intensifying its efforts to deliver data and AI solutions to partners and clients in the APAC region.

Following the investment, Mitsui’s stake in ADS will increase from 3.29% to 20%, resulting in an effective 12.69% stake in ADA, it added.

"Mitsui's strong endorsement highlights our extraordinary growth story. We are excited about the prospect of deepening our collaboration with Mitsui to empower their partners with cutting-edge data, AI, and technology solutions," said Srinivas Gattamneni, chief executive officer of ADA. "This partnership represents a significant step forward as we enter our next phase of growth, and we believe it will be an invaluable contributor to our journey."

"Mitsui has a strong and proven track record of bolstering innovative businesses in the fields of AI, data analytics and digital transformation. We are confident that broadening our strategic partnership will further enhance ADA’s expertise in AI and data analytics with Mitsui’s substantial business capabilities derived from a global portfolio," Vivek Sood, group chief executive officer and managing director of Axiata added. 

"This is a significant step towards generating greater, long-term value for our stakeholders and in driving continued growth within this space. Consequently, this will enable Axiata to seize additional opportunities in the digital business realm while sharpening our focus on our core pillars, thereby enabling sustainable growth across our geographic footprint," he explained. 

Sood added that Axiata also acknowledged the contributions of other shareholders within ADA, such as Softbank and Sumitomo, who have been instrumental in providing support and fostering synergies as ADA pursues its journey towards achieving unicorn status in the AI, data analytics and digital transformation space.

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