Softbank to buy stake in Norway robotics firm: TOKYO (AFP) – Japanese investment giant SoftBank Group will acquire a 40 percent stake in Norwegian robotics firm AutoStore in an offer worth $2.8 billion, both companies stated.
The offer is the most recent wager by SoftBank, which has spent heavily on several of the technology world’s hottest start-ups and also greatest names, ranging from expert system to biotech business.
The bargain values AutoStore, which establishes storehouse automation technology, at $7.7 billion, according to a statement released by the set on Monday.
Understood for its cuboid systems that reduce the area needed to keep goods, AutoStore says it has actually released 20,000 robots throughout 35 countries and that its customers include Puma and Siemens.
“We see AutoStore as a foundational innovation that enables quick and economical logistics for companies around the world,” claimed SoftBank owner Masayoshi Kid.
The companies will certainly interact to “boldy broaden across end markets and also locations”, he included.
Boy has in the past fought movie critics of his dedication to sometimes struggling startups, as well as brushed aside questions over a massive asset-sale program.
The telecoms-firm-turned-investment behemoth has stakes in several of Silicon Valley’s most popular start-ups through its $100 billion Vision Fund. The firm said in February that net profit soared to $11.1 billion in its financial third quarter, with Boy dubbing the Fund a “goose that creates gold eggs”.
Karl Johan Lier, Autostore’s president and also CEO, claimed his firm intended to grow in the Asia-Pacific market with Softbank’s assistance.
United States investment firm Thomas H. Lee Partners will stay the bulk investor in Autostore even after the Softbank offer, which is expected to be settled in April.