By Liz Lee
KUALA LUMPUR, May 11 (Reuters) - Malaysian telecommunications firm Axiata Group Bhd on Tuesday said Japanese peer SoftBank Corp will invest $60 million in its digital analytics and artificial intelligence (AI) arm ADA.
SoftBank will own 23% of ADA via new shares, with its investment valuing the unit at $260 million, Axiata said in a statement.
ADA will use the proceeds to expand in South and Southeast Asia, while SoftBank will establish the unit as its core digital and data marketing partner in Asia, Axiata said. (SoftBank) aims to leverage its network of portfolio companies in proposing and providing digital marketing solutions that incorporate ADA s proprietary technologies and consumer AI models, Axiata said.
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