All digital pianos from Japan’s Hitachi for the United States
The Japanese electronics giant Hitachi wants to expand in the United States, and in particular in the cloud sector, taking advantage of the layoffs of Microsoft, Meta and Alphabet. All the details
The Japanese conglomerate Hitachi, active mainly in electronics and machinery, is planning a massive expansion in the United States, trying to use to its advantage the massive layoffs of American "Big Tech" in recent months.
HITACHI: BIG TECH LAYOUTS ARE “A GREAT OPPORTUNITY”
"We want to hire really good people among those who have been fired" by Meta, Microsoft and Alphabet, for example, Hitachi chief executive Keiji Kojima told the Financial Times .
“Of course,” he added, “we have to be very selective, as the salaries of people employed by these companies are usually high.” But he nonetheless believes that the personnel cuts of the large American technology companies represent "a great opportunity" for Hitachi, which wants to increase its division dedicated to digital services also through acquisitions in Silicon Valley.
THE PURCHASE OF GLOBALLOGIC AND THE FOCUS ON THE CLOUD
In 2021, Hitachi bought GlobalLogic, a California-based computer engineering firm, for $9.5 billion. Today – Kojima anticipated to the British newspaper – he is looking for new business in the US cloud computing sector.
3.7 BILLION IN DIGITAL INVESTMENTS
The Japanese conglomerate plans to invest $3.7 billion in its digital sector through March 2025, and to hire 30,000 people in this area.
GlobalLogic is in turn hiring about a thousand people every month, mainly in Europe and Latin America, where it has also acquired two companies (in Romania and Uruguay).
SLIMMING AND REORIENTATION
The investment is part of the broader restructuring plan of Hitachi, which has disposed of about twenty subsidiaries to better concentrate efforts in the two sectors considered strategic, namely information technology and infrastructure.
The resources raised with the sale of the non-core units were used precisely to buy GlobalLogici and to expand Lumada, a division that deals with data and digital services. The group has also fully acquired the electricity grid management activities of the Swiss company ABB.
WHAT WILL HITACHI DO WITH ASTEM
Kojima told the Financial Times that Hitachi intends to sell a stake in Hitachi Astemo – a company formed from the merger of Hitachi and Honda subsidiaries in the auto parts sector – to a private equity fund. After finding an investor, presumably by fiscal 2023, the unit – which is owned by two-thirds Hitachi -, will aim to go public within the next two to three years.
"With electric cars now in full swing around the world," said Kojima, "the company will not be able to survive without additional capital investment and research and development."
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/tutti-i-piani-digitali-della-giapponese-hitachi-per-gli-stati-uniti/ on Mon, 27 Feb 2023 08:18:56 +0000.