Friday, 24 March, 2023

Hitachi to buy GlobalLogic for $9.6 bn

<p>Hitachi will buy GlobalLogic for $9.6 bn, including repayment of the debt. The latest acquisition is part of Hitachi&#39;s portfolio overhaul as it aims to transform itself into a digital service firm from electronics hardware. It made a $7 bn acquisition of ABB&#39;s power grid business in 2020. GlobalLogic, founded in 2000, has 20,000 workforces in 14 nations and offers software engineering services to 400 clients in automotive, healthcare, and finance.</p>