TOKYO (dpa-AFX) - According to Bloomberg News, SoftBank Group Corp. (SFTBY.PK) is in the advanced stages of discussions to acquire DigitalBridge Group, Inc. (DBRG), an alternative asset manager.
Following this report, shares of DigitalBridge climbed 33.38 percent, to $18.58 during trading before the bell. In the past one year, the stock has traded in the range of $6.41 to $15.55.
Citing unnamed sources, the report added that an acquisition deal between the two companies could be announced as soon as Monday.
The report comes as the major companies are competing to advance their artificial intelligence infrastructure, which has also prompted SoftBank's founder Masayoshi Son to capitalize in this sector.
With this acquisition, SoftBank could strengthen its portfolio related to assets tied to artificial intelligence, Reuters notes.
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