Hitachi Ltd acquires U.S. software company GlobalLogic Inc. for $9.6 billion

Hitachi Ltd acquires U.S. software company GlobalLogic Inc. for $9.6 billion

Hitachi Ltd. acquires U.S. software company GlobalLogic Inc. for $9.6 billion, the Japanese mechanical, electronic and development conglomerate said on Wednesday.

Tokyo-based Hitachi said the obtaining of the Silicon Valley organization will reinforce Hitachis computerized tasks in a wide scope of organizations, including IT, energy, industry and portability. It will accelerate endeavors in the digital transformation of railways, energy and medical services frameworks that are center Hitachi organization, it said.

GlobalLogic has around 20,000 employees in 14 nations, working plan studios and programming item designing focuses, with income expected to reach about $1.2 billion for financial year 2021.

Together we will create new social, environmental and economic value for our globally expanding client companies and elevate QoL, or quality of life, for people through contributions to realize sustainable society, said Hitachi Chief Executive Toshiaki Higashihara.

Hitachi shares plunged 7.3% in Tokyo exchanging.

The arrangement was required to nearby the finish of July, subject to administrative endorsement.

Organizations all throughout the planet are attempting to adjust to the quickly advanced changes going on in different businesses.

The acquisition of GlobalLogic is important for Hitachis 2021 mid-term plan, which incorporates a guarantee to contribute 1 trillion yen ($9 billion) to fortify the computerized capacities of the organizations rambling organizations.

GlobalLogic will add significantly to Hitachis delivery footprint in India where the former has 8,000 of its 20,000 employees.

About GlobalLogic:

GlobalLogic is a computerized item designing administrations organization that was established in 2000 and is settled in San Jose, California. It is a secretly held organization supported by Partners Group and CPP Investment Board. GlobalLogic gives programming item advancement administrations

GlobalLogic was established by four IITians – Rahul Garg, Sanjay Singh, Manoj Agarwala and Tarun Upadhyay-in 2000 as Induslogic.

In 2006, Induslogic converged with Bonus Technology to shape GlobalLogic, another worldwide item improvement administrations organization.

That very year, the organization got Series B Venture round financing of $12.5M from Sequoia Capital and New Enterprise Associates in 2006[citation needed] and obtained Lambent Technologies, a seaward programming R&D benefits firm situated in Nagpur, India

For More Updates: marketmagz.com

Follow Us @Twitter

Andrew Raymond

Leave a Reply

Your email address will not be published. Required fields are marked *