SoftBank to buy ABB’s robotics unit for $5.4bn

SoftBank Group said yesterday it has agreed to buy the robotics business of Swiss engineering group ABB in a $5.4 billion deal.

- JOHN REVILL

The deal marks a major push by Soft-Bank founder and CEO Masayoshi Son into robotics as he expands investing activity after a period of retrenchment.

SoftBank, whose forays into robotics include the humanoid Pepper, has investments in the segment including in Berkshire Grey and AutoStore.

The deal means ABB has abandoned its original decision to spin off and separately list the industrial automation business, which competes with Japan’s Fanuc and Yaskawa, as well as Germany’s Kuka in making factory robots.

The decision is the first major move under ABB CEO Morten Wierod, who took charge last year, and comes after the robotics business has struggled with falling profitability and sales in recent years.