Key Takeaway
ABB has recognized limited synergies between its Robotics division and other operations, citing differing market demands. CEO Morten Wierod stated that both ABB and SoftBank see a new era of AI-based robotics, believing their collaboration can shape this future. The partnership aims to leverage ABB’s technology and industry expertise alongside SoftBank’s advanced AI and robotics capabilities, enhancing ABB’s position as a technology leader. This acquisition adds to SoftBank’s significant investments this year, including a $2 billion stake in Intel.
Limited synergies drive decision
ABB has recognized that it has encountered limited business and technological synergies between its Robotics division and its other divisions, with team members noting the distinct demand and market characteristics that differentiate robotics from its core operations.
“ABB and SoftBank share the same view that the world is entering a new era of AI-based robotics and believe that the division and SoftBank’s robotics offering can collaboratively shape this era,” says Morten Wierod, CEO of ABB.
“ABB Robotics will gain from the integration of its leading technology and extensive industry expertise with SoftBank’s advanced capabilities in AI, robotics, and next-generation computing,” he adds.
“This will enable the business to enhance and broaden its position as a technology leader in its sector.”
This acquisition marks another significant addition to SoftBank’s portfolio this year, with the Japanese firm having already acquired a US$2bn stake in Intel earlier this summer.
