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Business deals

Singapore's GIC to buy Japan's top HR software developer for $2.6bn

State-owned fund to take about half of Works Human Intelligence shares from Bain

The move by GIC may be a sign that the fund is keen to push into business acquisitions in Japan.   © Reuters

TOKYO -- Singapore's GIC will jointly acquire Works Human Intelligence, a top human-resources software provider in Japan, for 350 billion yen ($2.6 billion) in what may be the biggest acquisition by the Singaporean sovereign wealth fund, Nikkei has learned.

GIC has been investing in Japan, mainly in the property market. The latest move suggests that the fund is keen to push into business acquisitions in the country.

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