[TOKYO] SoftBank Group has agreed to acquire ABB’s industrial robots unit at an enterprise value of almost US$5.4 billion, reflecting the Japanese investment firm’s interest in the burgeoning field.
The Swiss industrial conglomerate said in a statement it was abandoning an earlier intention to spinoff the business into a separately listed entity. It expects the deal with Softbank to close in mid- to late 2026.
ABB in April said it planned to hive off the robotics unit in 2026. It was one of the first major strategic moves by chief executive officer Morten Wierod, who took the helm at the company in August last year. BLOOMBERG
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