American big data analytics firm Palantir Technologies has partnered with Japanese insurer Sompo to launch a $100m joint venture (JV) in Japan.
The 50-50 JV will operate under the name Palantir Technologies Japan and cater to government agencies and big companies.
The JV will be led by Palantir CEO Alex Karp and Sompo chief digital officer Koichi Narasaki. It is expected to commence operations next month, reported Nikkei Asian Review.
The JV will work towards “Security, Health and Wellbeing” of Japanese organisations and society. It will offer platform solutions to facilitate intelligent decision-making using analysis and visualisation of real data.
Karp said: “We have the privilege of partnering with some of the most innovative and enduring companies in the world, including Sompo, a leader in its field whose business helped to define an industry.
“Our investment in Japan reflects our belief that the union of industrial expertise, built over decades on the front lines of business, with the right software will be the primary driver of economic outperformance moving forward.”
Narasaki added: “At its core, this new venture is the blending of parallel values of Sompo and Palantir.
“Real operational data, abundant in Japan, is transformed into scaled productivity and operational success in every business through the use of Palantir’s technologies.”