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Mitsubishi buys stake in B2B company

Japanese industrial giant Mitsubishi purchased a 20 percent stake in Southfield, Mich.-based ANXeBusiness on Monday--the first external investment in the business-to-business networking company since it was formed in February 2000. A Mitsubishi executive will join the board of directors of ANXeBusiness, a subsidiary of Science Applications International. The deal will help Mitsubishi streamline communications between employees in seven business groups for the diverse holding company, which includes automobiles, electronics, energy, metals, machinery and chemicals subsidiaries. ANXeBusiness was originally created by the Automotive Industry Action Group as a North American virtual private network for the automotive industry, but it now has more than 850 customers in the financial, health care, logistics, raw material, service and aerospace industries.

    Japanese industrial giant Mitsubishi purchased a 20 percent stake in Southfield, Mich.-based ANXeBusiness on Monday--the first external investment in the business-to-business networking company since it was formed in February 2000. A Mitsubishi executive will join the board of directors of ANXeBusiness, a subsidiary of Science Applications International.

    The deal will help Mitsubishi streamline communications between employees in seven business groups for the diverse holding company, which includes automobiles, electronics, energy, metals, machinery and chemicals subsidiaries. ANXeBusiness was originally created by the Automotive Industry Action Group as a North American virtual private network for the automotive industry, but it now has more than 850 customers in the financial, health care, logistics, raw material, service and aerospace industries.