News
Hitachi intends to obtain US software company GlobalLogic for US$9.6 billion
A few days ago, Hitachi declared that it would acquire GlobalLogic, a US software company, for US$9.6 billion, with a view to expanding from the electronic hardware field to the digital service field.
This acquisition is also part of Hitachi’s business portfolio rectification. In 2020, the company acquired ABB’s power grid business for USD 7 billion and divested a series of Chinese hardware subsidiaries.
After the news, Hitachi’s share price fell by more than 7%. Currently, San Jose-based GlobalLogic’s equity is held by the other two companies each holding 45%, and the remaining 10% is held by the company’s management.
According to the description of the company’s website, the company was founded in 2000 and has 20,000 employees in 14 countries and regions, as well as 400 active customers, with customer areas covering automotive, medical, technology, etc.
Hitachi plans to complete the transaction before the end of July. Along with this, the company is also negotiating with the company’s parent company to sell Hitachi Metals Co., Ltd., at a transaction price that may exceed 6.4 billion U.S. dollars.
(Via)