Hyundai Heavy Industries and US company Palantir Technologies will work on building a new big data platform, the companies said Wednesday. 

The two firms clinched a partnership in Las Vegas a day before the official kickoff of the CES 2022. The deal is reportedly valued at above $25 million, according to the industry.

Their multiyear deal will improve the way Hyundai Heavy’s affiliates operate their businesses in shipbuilding, offshore engineering and energy and industrial machinery through Palantir’s data analysis software, Hyundai Heavy Industries said. 

Once the platform is set up, the companies will create a joint venture to commercialize the new platform service through sales and development. The joint venture is expected to help firms gain traction with global industrial companies. 

Hyundai Heavy has been promoting its Future of Shipyard strategy in an effort to create the industry’s first smart shipyard by 2030.

From planning to production, the entire process will be connected online and to smart devices real time. Palantir’s big data platform will be used to make that idea a reality, the company said. 

“With cooperation with Palantir, the group’s core businesses are expected to gain more competitiveness, marking a great turning point to transform the company’s working culture to become data-based,” Hyundai Heavy Industries Holdings CEO Chung Ki-sun.