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SoftBank bulks up its robotics portfolio with ABB Group's robotics unit
TechCrunchยท 2025-10-08 14:10
Core Insights - SoftBank Group is acquiring ABB Group's robotics business unit for $5.375 billion, with the deal expected to close in mid-to-late 2026 pending regulatory approval [2][3] - The acquisition aligns with SoftBank's strategy to focus on physical AI as a new frontier, aiming to combine advanced technology and talent to drive innovation in robotics [5][7] Group 1: Acquisition Details - The robotics business being acquired employs approximately 7,000 people and generated $2.3 billion in revenue in 2024, which accounted for 7% of ABB's total revenue [3] - ABB's robotics revenue decreased from $2.5 billion in the previous year to $2.3 billion in 2024, prompting the decision to spin out the division [3] Group 2: Strategic Focus - SoftBank has been actively investing in the robotics sector, including established companies like AutoStore and startups such as Skild AI and Agile Robots [4] - The company launched its own robotics platform, SoftBank Robotics Group, in 2014, indicating a long-term commitment to this industry [4] Group 3: Vision and Future Plans - Masayoshi Son, SoftBank's chairman and CEO, emphasized the goal of merging artificial super intelligence with robotics to advance humanity [5][7] - Robotics is one of four key focus areas for SoftBank, alongside AI chips, AI data centers, and energy, reflecting a broader vision for technological evolution [7]