Hitachi To Buy US Software Developer GlobalLogic for $9.6 Billion

Hitachi said on Wednesday it will buy U.S. software company GlobalLogic for $9.6 billion, including repayment of debt, as the Japanese industrial conglomerate pivots from electronics hardware to digital services. From a report: The deal is the biggest Japanese outbound acquisition of a U.S. hi-tech company on record, according to Refinitiv data. The acquisition is part of Hitachi's ongoing business portfolio overhaul, which includes the $7 billion acquisition of ABB's power grid business last year and a series of divestitures of its domestic hardware subsidiaries. Hitachi's stock tumbled 7% on the Tokyo Stock Exchange, its sharpest daily fall in more than a year, on the news.

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[DontBeAMoran]

Surely you've heard of Hitachi before today!

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[Fly Swatter]

Clearly OP is not into power tools and doesn't visit pornhub.

Well they got ripped off

[S_Stout]

No wonder the stock plummeted.

GlobalWho?

[PickPacket]

Great purchase!

And.....the technology drain continues

[Puls4r]

And, the USA continues to allow foreign companies to snap up our promising tech companies without enforcing a partial ownership clause like so many other countries do.

Gee, let's allow intel to outsource their chip fabs too. Oh. Wait.

Best. Vibrator. OS. Ever.

[gumbright]

Thats the joke.