Hitachi plans to acquire ebworx to expand network
PETALING JAYA: Hitachi Ltd has initiated take-over proceedings to acquire ebworx Bhd, a financial IT solutions company headquartered in Malaysia.
Hitachi intends to expand its system solutions business in South-east Asia and China, by gaining access to ebworx’s extensive customer base, software products, and development base, including highly-skilled human resources.
The share acquisition proposal is subject to approval from regulatory authorities.
Hitachi also aims to establish a one-stop service framework targeting Japanese and local financial institutions that were increasing their investments in global operations especially in Asia.
By acquiring ebworx, Hitachi would have a business platform to provide comprehensive system solutions to financial institutions as ebworx has an extensive track record and established reputation with leading banks in South-east Asia and China.
Hitachi said in a statement yesterday it would also leverage on its global network to provide systems solutions that include the design, development, integration and maintenance of business software.
It aims to achieve further growth through global development of its Social Innovation Business, which provides social infrastructure underpinned by highly reliable and efficient information and telecommunications technologies.
As part of this objective, Hitachi is forging ahead with various initiatives, such as forming alliances with global partners and expanding new businesses, it said.
Under its information and telecommunication systems business Hitachi is expanding its bases through the resources obtained via the mergers and acquisitions to further globalise its operations.
Moving forward, Hitachi would strengthen business in the global marketplace, with the goal of increasing overseas revenues in the information and telecommunication systems business.
Hitachi is also supporting the business development of Japanese companies in Asian markets and also developing services for local companies.