TokYO Activist Investor ValueAct Capital Partners said on Tuesday it has built an 8.7 per cent stake in Trend Micro Inc, which is a cybersecurity software company that is expected to drive shares of the Tokyo-listed firm more than 9 per cent higher.
The investment came as Trend Micro, which has a market value of over $8 billion and a revenue of $1.9 billion, moves into a cloud-based cybersecurity platform.
In a statement, ValueAct Partner Alex Baum said that Trend Micro can join the ranks of other great enterprise software company transformations because of the growth acceleration from the SaaS software they have launched in recent years.
He said we have enjoyed getting to know Trend Micro's management team and look forward to collaborating with them.
San Francisco-based ValueAct is among a number of U.S. firms that have invested heavily in Japanese companies and have tried to work with management and the boards to make some changes.
Its holding in Trend Micro follows investments in Olympus Corp, Nintendo Co, chip-related materials maker JSR Corp and 7 i Holdings owner Seven i Holdings.
After private discussions with management, Seven i took an unusual step of going public with its concerns about the Japanese retail giant's business strategy.