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Business deals

Hitachi to acquire US software developer GlobalLogic for $9.6bn

Japanese electrical equipment company's shares fall more than 7%

Hitachi's acquisition of GlobalLogic for $9.6 billion would be the largest in Japan's electrical equipment industry if it goes through. (Photo by Koji Uema)

TOKYO -- Hitachi is set to acquire U.S. software developer GlobalLogic for $9.6 billion in what is expected to be the largest acquisition by a Japanese electrical equipment company.

"The objective of this acquisition is to advance our [Internet of Things platform] Lumada and accelerate global businesses," Hitachi President and CEO Toshiaki Higashihara said at an online press conference on Wednesday.

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