By Liz Lee
KUALA LUMPUR (Reuters) – Japan’s SoftBank Corp will invest $60 million for a 23% stake in the digital analytics and artificial intelligence arm of Malaysian telecoms firm Axiata Group Bhd, said two sources familiar with the matter.
The acquisition values the subsidiary, ADA, at about $260 million, the sources said, declining to be named as the announcement is not yet public.
A spokeswoman from Axiata and a spokesman from SoftBank declined to comment.
(Reporting by Liz Lee; Additional reporting by Sam Nussey in Tokyo; Editing by Christian Schmollinger)
