Global company Mitsui & Co (Mitsui) has become a corporate shareholder in intelligent positioning technology provider Position Partners to amplify innovation across its core markets.
Mitsui is a Japanese organisation with operations in 66 countries worldwide. Specialising in identifying and realising innovation in businesses across a wide spectrum of industries, Mitsui has more than US$100 billion in assets and has invested more than $15 billion in Australia over the last decade.
For Position Partners, Mitsui’s investment opens the door to numerous collaboration opportunities within the Mitsui network, facilitating greater value to customers through streamlined technology and support.
For Mitsui, the investment aligns with a strategic company goal for digital transformation that will optimise business processes.
“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,” Martin Nix, Position Partners CEO, said.
“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.”
Mitsui now holds 20% of Position Partners.
As part of the agreement, Daniel Shibata from Mitsui will join Position Partners’ Executive Steering Team to support Position Partners strategic interests through the Mitsui network. Mitsui has also appointed a director to the Position Partners board.
“Mitsui is committed to working in cooperation with Position Partners to achieve our shared strategic objectives. 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,” Daniel Todd, Mitsui & Co (Australia), General Manager Mobility Business Division, said.