trending Market Intelligence /marketintelligence/en/news-insights/trending/akvjeikfgbajxao8qvcspa2 content esgSubNav
In This List

Sumitomo invests US$20M in Axiata unit

Podcast

MediaTalk Episode 27

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Podcast

MediaTalk | Episode 26: Video game industry growth softens amid post-pandemic hurdles

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future


Sumitomo invests US$20M in Axiata unit

Japanese conglomerate Sumitomo Corp. has invested US$20 million in Axiata Digital Advertising Sdn Bhd., or ada, the digital services arm of Malaysian telco Axiata Group Bhd.

Sumitomo said July 27 that the capital infusion will help the company grow its digital advertising business across South and Southeast Asia.

It is looking to leverage ada's ability to combine data science, customer profiling and intent targeting across multiple media platforms. It plans to use technology related to artificial intelligence and big data analytics to strengthen ada's data management platform.

The personal mobile phone ownership and usage time of social networks in Southeast Asia is more than triple that of Japan's, Sumitomo said. Further, the region's digital advertising market is set to grow to US$5.30 billion in 2021 from US$2.70 billion in 2017.