Hitachi to Fully Acquire GlobalLogic for $9.6 Billion
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New Delhi, March 31 -- Hitachi Ltd said on Wednesday it will buy GlobalLogic Inc for $9.6 billion. The total stock acquisition cost is $8.5 billion which will complete by July 2021. Post this, GlobalLogic will act as a subsidiary for Hitachi. The Japanese industrial conglomerate, with this acquisition, aims to expand from electronics hardware to digital services. The acquisition is also part of its ongoing business portfolio overhaul. The company only last year acquired ABB Ltd' power grid business for $7 billion. It also indulged in a series of divestitures of its domestic hardware subsidiaries.
The company is also in talks with private equity firms to sell Hitachi Metals Ltd. The deal could fetch more than $6.4 billion, following the s...
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