Japan's Mitsui to buy 12.7% stake in Axiata's digital and analytics unit

(Reuters) - Japanese trading house Mitsui will take a 12.69% stake in Axiata Group's digital and analytics unit, the Malaysian telecommunications conglomerate said on Thursday.

Mitsui will invest $58 million in Axiata Digital & Analytics (ADA) through ADA's holding company, Axiata Digital Services.

Mitsui's latest investment currently values the digital and analytics firm at $550 million.

"Through this additional investment, Mitsui will provide ADA's marketing solutions and data analysis services to Mitsui's important partners and investees to help accelerate their marketing DX efforts," the Japanese firm said.

Mitsui's stake buy in ADA is part of a broader deal under which the Malaysian conglomerate will raise its stake in its holding company, Axiata Digital Services, from 3.29% to 20%.

(This story has been corrected to clarify Mitsui's stake raise in ADA is part of a broader deal with its holding company, not two separate deals, in paragraph 5)

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Sonia Cheema)