Japans leading energy company Sumitomo Corporation has announced the acquisition of stake in leading technology company Earth Science Analytics AS, which provides artificial intelligence (AI) based software for subsurface big-data analytics in the geoscience domain.
- ESA brings more digital capability to the industry as well as to the oil and gas Exploration and Production companies in order to accelerate their digital transformation initiative from the viewpoint of the geoscience domain.
- This is right timing for a new digital technology such as AI/Machine Learning (ML) to be combined and integrated in order to make subsurface data analytics more robust.
The prominent deals and expansions by Sumitomo Corporation are featured below:
May 2020: Sumitronics Corporation a wholly-owned subsidiary of Sumitomo Corporation had announced that it will be establishing a new plant for electronics manufacturing services (EMS) business in the city of Wuxi, China jointly with Di-Nikko Engineering Co., Ltd.
March 2020: Sumitomo Corporation, announced that Sumitomo Corporation of Americas (SCOA) would be investing in Origin WirelessTM, a developer of advanced wireless sensing technologies for various “Smart Life” applications.
The investment by SCOA will help Origin Wireless accelerate its integration with 5G mobile, enhancing the company’s solutions portfolio.
February 2020: Sumitomo Corporation and Japan Airlines (JAL) entered into a cooperation agreement with Bell Textron Inc., a Textron Inc. to promote the development of the Air Mobility Industry, including the infrastructure for next generation air transportation methods.
February 2020: Sumitomo Corporations subsidiary Sumitomo Corporation India Pvt Ltd. announced its expansion with a new office in Bengaluru, India. Bengaluru has one of the largest number of IT engineers in the world.
January 2020: Sumitomo Corporation, through its subsidiary Sumitomo Corporation of Americas, announced its investment in Elementum 3D, Inc. an additive manufacturing research and development company that specializes in the creation of advanced metals, composites and ceramics. This investment will help expand the marketing and sales of Elementums proprietary powder.
About Sumitomo Corporation
Sumitomo Corporation Group, incorporated in 1919, is a member company of the Sumitomo Group, conducts business activities in a wide range of industries on a global scale. Areas of operations include Metal Products, Transportation and Construction Systems, Infrastructure, Media and ICT, Living Related and Real Estate, Mineral Resources, Energy, and Chemical and Electronics. Sumitomo has around 66 offices in around 135 countries of the world. It has approximately 67,000 employees across the globe in around 129 companies of the group.