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Hitachi and Fusionex form new alliance to invest in Digital Business Acceleration

Hitachi and Fusionex form new alliance to invest in Digital Business Acceleration

15 Apr 2020

Hitachi, Ltd. (Japan) has announced that it has entered into an agreement to collaborate and establish a key strategic partnership with Fusionex, a Big Data and AI technology market leader in Asean.

Both parties intend to work closely to accelerate and catalyse a new company to focus on digitalising businesses.

The new company was formed in February this year pursuant to this collaboration.

Headquartered in Malaysia, Fusionex is one of the most prominent technology companies to emerge from the Asean region.

Hitachi will invest significantly in the new special purpose vehicle (SPV) as a subsidiary of Hitachi, whilst Fusionex will inject its know-how, technology and resources.

Fusionex has also been tasked to helm the management team and steer the new company towards a path of aggressive growth and expansion, despite the present global economic backdrop.

Hitachi aims to be a global leader of social innovation business in its 2021 Mid-term Management Plan, and is planning aggressive investment in the IT sector with a focus on North America and Asia.

By this investment, Hitachi will also incorporate Fusionex’s AI-enabled data analytics products, services and subscription type SaaS business expertise in Hitachi’s own Lumada software platform to strengthen its SaaS business.

Fusionex is a data technology provider specialising in Analytics, Big Data, IR 4.0, Machine Learning, and Artificial Intelligence. Its offerings are focused on helping clients unlock value, as well as derive insights and foresight from data.

US technology research firm Gartner issued a 2018 report on Modern Analytics and Business Intelligence that shortlisted Fusionex’s offerings.

In addition, Fusionex has been identified as a Major Player in International Data Corporation’s (IDC) MarketScape Report for Big Data & Analytics. Fusionex is the only Asean-based company to be featured in both reports.

Source: NST

Posted on : 15 April 2020