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SoftBank To Invest About $60 Mln In Axiata Digital Advertising

(RTTNews) - SoftBank Corp. (SFTBY.PK, SFTBF.PK) said that it will form a capital and business alliance with Axiata Digital Advertising Sdn. Bhd., a Kuala Lumpur-based data and AI company that offers integrated digital marketing solutions in Malaysia, Singapore, Indonesia, Thailand, Cambodia, Philippines, Sri Lanka, Bangladesh and South Korea.

As part of the deal, SoftBank will invest approximately $60 million in ADA, giving it a 23.1% stake in the company.

In addition, Daichi Nozaki, SoftBank Vice President and Head of the Enterprise Business Unit's Global Business Division, will join the ADA board in mid-May 2021.

Axiata Digital Advertising Sdn. Bhd. or ADA is a group company of Axiata Group Berhad, a major telecommunications operator in Asia.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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