ST Engineering invests in data analytics company Azendian

Friday 2 March 2018 | 07:21 CET | News
ST Engineering has announced that its corporate venture capital unit ST Engineering Ventures (STEV) has invested SGD 4 million for a minority interest in Azendian Holdings, a Singapore-based data analytics company. This investment in Azendian is expected to help strengthen the data analytics capabilities that the Group’s electronics arm, ST Electronics already owns. Specifically, it is forecast to help enhance the smart data analytics platform dubbed D’Space Insights that ST Electronics produced for developing suites of AI tools with machine learning capabilities. No financial details relate to the investment have been disclosed. 

This investment is also expected to expand the Group’s direct and immediate access to a wider pool of data analytics expertise that will provide customers with data-driven and data-enabled services for digital transformation. The transaction is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

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