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Palantir and Hyundai Heavy Industries Will Form Big Data Platform in $25 Million Deal
- Long-term deal positions Palantir to grow commercial business
- Agreement with South Korean company valued at $25 million
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Palantir Technologies Inc. plans to build a new big data platform in partnership with South Korea’s Hyundai Heavy Industries Group. The move could position Palantir to boost its growing commercial business outside the U.S.
Hyundai Heavy will use Palantir’s data analysis software to improve the way its affiliate groups operate in fields including shipbuilding, offshore engineering and energy and industrial machinery processes, the companies announced Tuesday at the CES trade show in Las Vegas. The multiyear deal is valued at more than $25 million, according to a person familiar with the arrangement who asked not to be identified discussing private information.