Bain to acquire T-Gaia from Sumimoto for $980m.

Bain, a private investment firm that specializes in private equity, venture capital, credit, public equity, impact investing, life sciences and real estate, agreed to acquire T-Gaia, a Japan-based information technology company, from Sumitomo, a general trading company, for $980m. Since the establishment of Sumisho Telemate in June 1995, Sumimoto Corporation has provided T-Gaia with strategic support to increase its corporate value and enhance HR support through means such as secondment of employees. However, the environment surrounding the cell phone sales agent business has drastically changed in recent years, and the roles and expectations of cell phone sales agents by telecommunications carriers have also changed significantly. In light of this, and following a review of our business portfolio, we have decided that it is desirable to transfer our T-Gaia shares.