SoftBank to buy ABB robotics unit for $5.4 billion in AI push
An ABB robot on the production line at the Sony UK Technology Center in Pencoed, UK.
Bloomberg | Bloomberg | Getty Images
SoftBank Group In a statement made on Monday, it was stated that the Japanese giant agreed to purchase the robotics division of Swiss engineering firm ABB, with which it is trying to support artificial intelligence games, for $ 5.4 billion.
The agreement is subject to worldwide regulatory approval. ABB will no longer consider spinning off its robotics business as a separate company.
“SoftBank’s next frontier is Physical AI. Together with ABB Robotics, we will combine world-class technology and capabilities under our shared vision to combine Artificial Super Intelligence and robotics – pioneering a groundbreaking evolution that will move humanity forward,” SoftBank founder Masayoshi Son said in a statement. he said.
Artificial Super Intelligence, or ASI, is Son’s idea of artificial intelligence that is 10,000 times smarter than humans.
Son has sought to place SoftBank at the center of the potential AI boom through investments and acquisitions in different areas of technology. SoftBank, for example, owns chip designer Arm and has a large stake in OpenAI.
SoftBank already has some robot-related investments, including AutoStore Holdings and Agile Robots.
Morten Wierod, who became ABB’s CEO in August 2024, suggested the spin-off of the company’s robotics unit as a strategic move.
ABB said in a statement that the sale “will create immediate value for ABB shareholders.” The company said it will use the proceeds from the transaction “in line with established capital allocation principles.”
This is breaking news. Please check back for more.
