URGENT: Hitachi to acquire U.S. tech firm GlobalLogic for $9.6 bil.

©Kyodo News

Japanese industrial conglomerate Hitachi Ltd. said Wednesday it will fully acquire U.S. software firm GlobalLogic Inc. for $9.6 billion to boost its information technology business in overseas markets.

Hitachi has been focusing on IT-related and infrastructure businesses, having bought an 80.1 percent stake in the power grid business of Swiss engineering group ABB for around 740 billion yen ($6.7 billion) last year, while selling its entire stake in chemical unit Hitachi Chemical Co. to Showa Denko K.K.