A Chinese software company will raise $10 billion in a financing round led by a Japanese firm to expand its operations in India and build up its inventory of PC equipment, a Japanese company said on Wednesday.
The deal with Fujitsu Corp. is aimed at increasing its presence in India, where its PC-maker Fujitsu Group Co. has been aggressively pushing the use of cloud computing and artificial intelligence in industries like health care, transportation, retail and logistics.
Fujitsu has said it will invest up to $1 billion to expand sales in India.
It is already among the top vendors of personal computers in India with more than 80 percent of the market.
The company said in a statement that it will expand its sales, operations and operations in the country to reach up to 1.5 million customers, mainly in urban areas, with a focus on retail and healthcare sectors.
The investment will be made over the next five years, it said.
Fukushibayashi Co., based in Nagoya, Japan, was founded in 1997 by former Fujitsu executive Kazuhiro Yoshida.
Its sales and business were valued at more than $60 billion in 2014.
The company operates an inventory management system and software that it uses to analyze, manage and sell its products, including PCs.