Foxconn Buys Controlling Stake Of SoftBank's Asian Investment Fund

Foxconn is taking over SoftBank's Asian tech investment fund. The manufacturing giant will spend $600 million to acquire a 54.5% stake in SoftBank Asia Capital. A representative for SoftBank has said this deal will make Foxconn the "decision maker on investments."

The acquisition will be processed on March 1. Foxconn plans to combine the forces of SoftBank's "investment expertise" with its own "leadership in advanced manufacturing and technology services."

Foxconn has already been a major player in tech investments, pumping money into Didi Chuxing, Hike, Meitu, Lytro, and others.