An ABB robot on the production line at the Sony UK Technology Center in Pencoed, UK.
Bloomberg | Bloomberg | getty images
softbank group on Monday said it has agreed to buy the robotics division of Swiss engineering firm ABB for $5.4 billion, as the Japanese giant looks to boost its artificial intelligence plays.
The deal, which is subject to regulatory approval globally, means abb It will no longer consider spinning off its robotics business as a separate listed company.
“SoftBank’s next frontier is physical AI. Together with ABB Robotics, we will unite world-class technology and talent under our shared vision of connecting artificial superintelligence and robotics – driving an unprecedented evolution that will advance humanity,” SoftBank founder Masayoshi Son said in a statement.
Artificial Super Intelligence or ASI is Son’s idea of AI Which is 10,000 times smarter than humans.
son has seen the situation SoftBank at the center of potential AI boom Through investments and acquisitions in various areas of technology. For example, SoftBank owns chip designer Arm, and has a major stake in OpenAI.
SoftBank already has some robot-related investments, including AutoStore Holdings and Agile Robots.
Morten Wierod, who becomes CEO of ABB in August 2024, has pushed for 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 would use the proceeds from the transaction “in line with its well-established capital allocation principles”.
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