Staff Reporters
May 12, 2021

SoftBank invests $60 million in ADA

SoftBank plans to tap ADA's expertise in analytics, data, and AI digital marketing to expand the footprint of its portfolio, including messaging app Line, in Southeast Asia.

ADA CEO Srinivas Gattamneni.
ADA CEO Srinivas Gattamneni.

Digital marketing agency ADA has secured a US$60 million investment from Japan's SoftBank Group, bringing ADA’s valuation to $260 million.

SoftBank, which will own 23.07% of ADA shares once the investment has closed, plans to make ADA a core of its digital and data marketing arm.

The Japanese conglomerate wants to use ADA to build its footprint in Southeast Asia. It will do this by combining ADA's expertise with its customer data platform Treasure Data and the consumer base of its communication app Line, which it owns 50% of alongside South Korea's Naver.

Daichi Nozaki, SoftBank Corp's VP and head of the enterprise business unit's global business division, said: "We believe this alliance between SoftBank and ADA will reshape the digital marketing and data landscape in the Asia-Pacific region.

"This move is part of our Beyond Carrier growth strategy as we seek to expand beyond the traditional telecommunications business; and by combining our diversified solutions and technologies with ADA’s expertise in the area of analytics, data, and AI digital marketing, we expect we can both generate significant synergies."

ADA, meanwhile, will use the cash injection to continue its development of AI models, with a primary focus on precision targeting for the marketing industry, content analytics and automation of content creation. It also plans to create data platforms to deliver consumer insights, predict consumer mindset, and help business decisioning.

ADA CEO Srinivas Gattamneni said the capital and business alliance with SoftBank "will further propel ADA’s analytics, data, and AI digital marketing solutions for the benefit of our customers across the region."

ADA is owned by Malaysian telco Axiata and operates across nine markets in South and Southeast Asia. Founded in 2018, it specialises in AI-driven digital marketing solutions. It services around 1,300 clients.

Source:
Campaign Asia
Tags

Related Articles

Just Published

4 hours ago

Tech On Me: Is Apple renewing its focus on ...

In a busy tech week, Apple unveils new ad tools, Oracle exits from ad tech, Amazon makes a big Taiwan bet, and Musk launches a war on Apple devices, and other weekly highlights.

5 hours ago

Campaign Global Agency of the Year Awards 2023: ...

New Zealand's Special repeats as Creative Agency of the Year while The Weber Shandwick Collective was named Asia Pacific Network of the Year.

6 hours ago

Agency Report Cards 2023: We grade 31 APAC networks

Campaign Asia-Pacific presents its 21st annual evaluation of APAC agency networks based on their 2023 business performance, innovation, creative output, awards, action on DEI and sustainability, and leadership.

6 hours ago

Agency Report Card 2023: Publicis Media

Starcom shone brightly for Publicis Media agency in 2023, and the Groupe decision to award staff bonuses was well received.