Japanese conglomerate intends to acquire American software developer
The source learned that Hitachi intends to acquire the American software developer GlobalLogic for $ 9.6 billion. If completed, the deal would be the largest acquisition in the history of the Japanese conglomerate.
Hitachi Prepares For Its Largest $ 9.6 Billion Deal
Hitachi has been rapidly redeveloping itself in recent years, focusing on the information technology and services sector and ditching less promising businesses.
Founded in 2000, GlobalLogic is headquartered in California, providing software development, digital engineering services, IT outsourcing, and research and development.
Currently, 55% of the shares are owned by the company’s management, and the remaining 45% are owned by CPP Investments, which manages Canadian state pension funds, and the Swiss investment fund Partners Group. Hitachi plans to buy back all shares from existing shareholders and transfer the company under the auspices of Hitachi Global Digital Holdings, which oversees Hitachi’s US IT business. The deal is expected to be completed in July.
