Diversified conglomerate Sumitomo has invested $20m in Ada, a Malaysia-based digital advertising spinoff from Axiata Digital, itself a subsidiary of telecommunications firm Axiata.
Ada offers a unified digital marketing offering that combines programmatic advertising technology and marketing data and analytics for customers in nine Asian markets, harnessing consumer analytics sourced from its data management platform, Xact.
In addition to providing cash, Sumitomo will supply technology that will enhance Xact, along with its expertise in affiliate marketing and digital advertising. The companies also intend to partner on digital advertising services in Sumitomo’s home country of Japan.
Masahiro Miyashita, a corporate officer at Sumitomo, said: “It is a great pleasure to partner with Ada for creating new value through data driven analytics and leading digital transformation.
“We will also seek opportunities for further collaboration in the areas such as fintech and [the internet of things] with Axiata Digital Services as a strategic partner.”