A Japanese company has become a corporate shareholder in intelligent positioning technology provider Position Partners to help amplify innovation across its core markets.
Mitsui & Co. (Mitsui) now holds 20 per cent of Position Partners, with the Japanese business appointing a director to the board.
As part of the agreement, Danial Shibata from Mitsui will also join Position Partner’s Executive Steering Team to support the strategic interests through the Mitsui network.
Mitsui has operations in 66 countries around the world and specialises in identifying innovation in businesses across a variety of industry. Mitsui has more than $US100 billion ($141.3 billion) in assets and has invested more than $US15 billion ($21.2 billion) into Australia in the past decade.
- Autodesk completes $379M acquisition
- Drone mapping technology manages assets more efficiently
- John Holland welcomes 400 new rail staff through acquisition
For Position Partners, the investment helps create opportunities within Mitsui’s network to help provide greater value through streamlined technology and support. For Mitsui, the investment aligns with a strategic company goal for digital transformation.
“Mitsui’s reach and vision into global business optimisation is considerable and the company’s investment in Position Partners will assist us to identify and leverage technology that is evolving both within and beyond our core industries,” said Position Partners CEO, Martin Nix.
“By tapping into how various businesses are applying AI and IoT systems, we can continue to offer customers the latest developments to improve their productivity,” he said.
“Mitsui is committed to assisting Position Partners achieve its strategic objectives and we look forward to introducing the company to our partners, particularly in the resources sector and in South East Asia where we have already identified opportunities,” said Mitsui & Co (Australia) General Manager Mobility Business Division Daniel Todd said.
Image: From left to right: Noburu Katsu (Chairman & CEO, Mitsui & Co (Australia)), Ian Petherbridge (Chairman, Position Partners), Martin Nix (CEO, Position Partners), Nobuaki Kitamori (Representative Director, Senior Executive Managing Officer, Mitsui & Co), Hiroshi Kubo (General Manager, Construction and Industrial Machinery Division, Mitsui & Co).