KUALA LUMPUR (May 11): SoftBank Corp is investing RM250 million (US$60 million) in Axiata Group Bhd’s digital marketing subsidiary ADA for a 23.07% stake in the company, establishing ADA’s RM1.07 billion (US$260 million) valuation.

Axiata Digital will remain as the majority shareholder of ADA with a 63.47% stake, following the entry of SoftBank. Axiata Digital is a 96.47% subsidiary of Axiata.