Japan's SoftBank Corp. and Findability Sciences Inc. today announced that they have entered into a definitive agreement to establish a joint venture (JV), which will offer a proprietary software product developed by Findability Sciences. The product is known as the Findability Platform and will be marketed in the Japanese market by the JV.
Headquartered in the Boston area, Findability Sciences Inc. is a big data, cognitive sciences, and artificial intelligence technology services and consulting company. SoftBank will offer the Findability Platform: a self-learning technology platform that ingests large data sets to provide actionable insights, predictions, and human-like intelligence. The joint venture operations will be managed from Findability Sciences' new facilities in Tokyo, Japan.
"We are very proud to form a joint venture with a world-renowned tech giant like SoftBank. This will significantly enhance our visibility to the marketplace and our ability to continue offering innovative solutions to our growing customer base," said Anand Mahurkar, Founder and Chairman of Findability Sciences. "SoftBank's selection of Findability Sciences, first as an ecosystem partner and subsequently as a joint venture partner, speaks volumes about our people, processes and technology, Findability Platform," added Mr. Mahurkar.
SoftBank also made a strategic investment of approximately $7.4 million with the aim of strengthening its offerings in the growing field of big data, analytics, and artificial intelligence. SoftBank holds a controlling 51 percent stake in the joint venture, with Findability Sciences Inc. owning the 49% balance.
In announcing the venture, Daichi Nozaki, Vice President, Head of Global Business Division, Enterprise Business Unit of SoftBank said, "I am very happy to make the Findability Platform available to Japanese customers. Our mission is to improve the decision-making capabilities of our customers. We have conducted extensive research and worked closely with various partner companies to provide our customers with optimal solutions to support their increasingly complex needs. The Findability Sciences' platform, which emphasizes automatic analysis, self-learning, is very innovative. Additionally, the Findability Platform offers functionality that until now has commanded a premium and has required significant capital expenditure. Together we are bringing to the market, out of the box solutions that are still versatile enough to meet the needs of a range of industries."
The joint venture will serve Japanese customers in various verticals including Human Resources, Insurance, Banking & Financial Services (BFSI), Retail, and Manufacturing. Findability Sciences' India operation provides a dedicated facility to support the joint venture by providing data science and software development activities in tandem. Findability Sciences anticipates a need to fill several new positions in its United States, India, and Japan offices.
"We are very excited to start our new operations in Japan. We are also working on expanding our presence into other countries," added Mr. Mahurkar. In August 2017, Findability Sciences expanded its presence in the Northeast by opening a new facility in Woburn, MA. In September 2017, Findability Sciences K.K. began operations in Roppongi area of Tokyo, Japan. The company will be opening its new Center Of Excellence (CoE) in India, later this month.
About Findability Sciences: Findability Sciences is a global Big Data and AI company providing innovative solutions in the United States, Europe, and India market since 2010. Findability Platform is its flagship offering into retail, manufacturing, BFSI, higher education, and health-care businesses. Findability Sciences has offices in Mumbai and Aurangabad in India. To learn more, please visit www.findabilitysciences.com.
About SoftBank Corp: SoftBank Corp., a subsidiary of SoftBank Group Corp. (TOKYO: 9984), provides mobile communication, fixed-line communication, and Internet connection services to customers in Japan. Leveraging synergies with other companies in the SoftBank Group, SoftBank Corp. aims to transform lifestyles through IT and expand into other business areas including IoT, robotics, and energy. To learn more, please visit www.softbank.jp/en/corp/group/sbm
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