Japanese company plans to use California firm’s tech to drive digital transformation for its own industrial supply chains
The industrial giant Mitsubishi Corp. has invested in ThinkIQ, buying a stake of unspecified size in the nine-year old California-based technology firm and launching a plan to apply its industry 4.0 technology to its own supply chains.
Terms of the investment were not disclosed. But the Japanese company said it planned to partner with ThinkIQ “to accelerate digital transformation with smart manufacturing solutions for the many industrial supply chains in its ecosystem.”
“We expect ThinkIQ’s solutions to have a major impact on manufacturers to help improve yield, quality, safety, and compliance while dramatically reducing waste and environmental impact,” Yoshiyuki Watanabe, Division COO of Mitsubishi Corp., said in a release. “ThinkIQ’s open, innovative platform and leadership in digital transformation for the manufacturing industry is what prompted our investment and go-to-market partnership.”