Society | Apr 01

Hitachi to buy US IT firm GlobalLogic

Japanese firm Hitachi has made a major acquisition to boost its information technology business overseas. The company will buy US software developer GlobalLogic for 9.6 billion dollars.

Hitachi aims to acquire all shares of GlobalLogic by the end of July. It says the deal includes repayment of the American firm's debt.

GlobalLogic develops platforms for companies pursuing digital business opportunities.

The Silicon Valley-based firm was founded in 2000 and has operations in 14 countries.

Hitachi says demand for the services offered by GlobalLogic is rising sharply.

Hitachi President and CEO, Higashihara Toshiaki, said "GlobalLogic has expertise in the medical and automotive sectors as well as industrial development. I'm confident that we will be able to provide new value to our worldwide customers through this acquisition."

The Japanese company is overhauling its group business to concentrate on the IT sector while reducing non-core operations.

Source: ANNnewsCH

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