Big Law
Hitachi Is Set To Acquire U.S. Software Developer GlobalLogic For $9.6B
TOKYO — Hitachi is set to acquire U.S. software developer GlobalLogic for $9.6 billion in what is expected to be the largest acquisition by a Japanese electrical equipment company.
“The objective of this acquisition is to advance our [Internet of Things platform] Lumada and accelerate global businesses,” Hitachi President and CEO Toshiaki Higashihara said at an online press conference on Wednesday.
The planned acquisition comes as Hitachi is rapidly overhauling its group businesses to concentrate on the IT sector while shedding non-core operations.
Silicon Valley-based GlobalLogic, founded in 2000, develops platforms for companies pursuing digital business opportunities.
