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Hitachi To Buy GlobalLogic For $9.6 Bln, Incl. Debt. - Quick Facts

Hitachi Ltd. (HTHIF.PK,HTHIY.PK) said Wednesday that it agreed to buy U.S. software developer GlobalLogic for $9.6 billion or about 1.04 trillion yen, including debt.

The transaction is subject to customary conditions and regulatory approvals and expected to be completed by the end of July 2021.

Headquartered in Silicon Valley, GlobalLogic is a leading company in the digital engineering services market. It operates design studios and software product engineering centers around the world and has more than 20,000 professionals in 14 countries.

GlobalLogic's revenues are expected to reach about US$1.2 billion or about 129.6 billion yen with adjusted EBITDA margins to be over 20% in fiscal 2021.

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