SoftBank to buy ABB robotics unit for $5.4 billion as it boosts its AI play
Summary
SoftBank agreed to acquire ABB’s robotics division for $5.4 billion as it expands its artificial intelligence strategy. The deal still needs regulatory approval, and ABB will drop plans to spin off the robotics business as a separate listing. SoftBank says the purchase fits its push into Physical AI and combines robotics capability with its existing AI and chip investments. ABB says the sale creates immediate value for shareholders and will generate about $5.3 billion in cash proceeds.
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industries
Energy & Natural Resources
applications
Anti Piracy
AskAI Classifications
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Energy Management Software
Building Automation Software
SaaS
Linked Companies
Teletrol Systems, Inc.
$1M to $5M