&imwidth=800&imheight=600&format=webp&quality=medium "Japan's SoftBank to buy ABB robotics unit for $5.4 billion")
Softbank Group said on Wednesday that it will buy Swiss engineering group ABB, a robotics company, in a whopping $5.4 billion deal. The company, helmed by CEO Masayoshi Son, already has investments in the sector. ABB competes with Japan's Fanuc and Yaskawa in the industrial automation business. The robotics business has struggled with falling profitability and sales in recent years, according to Reuters.
The decision is the first major move under ABB CEO Morten Wierod. He said in a statement that both companies share the same perspective that the world is entering a new era of AI-based robotics.
"ABB Robotics will benefit from the combination of its leading technology and deep industry expertise with SoftBank's state-of-the-art capabilities in AI, robotics, and next-generation computing," he added.
After the deal was announced, ABB shares were trading 3 per cent higher in pre-market activity in Zurich.
SoftBank's shares also rose 1 per cent. However, they were down 1.57 per cent compared to Tuesday. The deal will be closed in mid-to-late 2026. ABB will generate proceeds of roughly $5.3 billion from the divestment.
The money will be used in investing in organic growth, acquisitions, and returning capital to shareholders through dividends and share buybacks.
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The robotics business employs 7,000 people. It generated sales of $2.3 billion last year.
The company's branch of the business had been struggling with subdued demand in Asia.
New installations remained largely unchanged at 542,000 units in 2024, according to the International Federation of Robotics.