On Tuesday, in a statement Malaysian telecoms firm Axiata Group Bhd stated SoftBank Corp will be investing $60 million in its digital analytics and artificial intelligence unit.

As part of the deal, Softbank will have a 23% stake in ADA; following the investment, the unit will be valued at $260 million, said Axiata.

ADA plans to use the newly acquired funds to increase its footprint in the South and Southeast Asia market, said Axiata. It went on to add, SoftBank will “establish ADA as its core digital and data marketing partner in Asia”.

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