Berkshire Grey, a leading provider of AI-powered robotic solutions for logistics and fulfillment, has announced a collaboration with SoftBank Group for a go-private transaction. The deal will see Berkshire Grey become a privately held company, with SoftBank Group as the majority shareholder.
The collaboration between Berkshire Grey and SoftBank Group is a significant development in the field of robotics and automation. Berkshire Grey’s technology is designed to help businesses automate their supply chain operations, from picking and packing to shipping and delivery. The company’s AI-powered robots are capable of handling a wide range of products, from small items like books and electronics to larger items like furniture and appliances.
SoftBank Group, on the other hand, is a global technology conglomerate that has invested heavily in robotics and AI. The company’s Vision Fund has invested in several robotics companies, including Boston Dynamics, a leading developer of humanoid robots.
The go-private transaction between Berkshire Grey and SoftBank Group is expected to provide the former with the resources it needs to expand its operations and develop new products. The deal will also enable the company to focus on long-term growth without the pressure of meeting quarterly earnings targets.
In a press release announcing the collaboration, Tom Wagner, CEO of Berkshire Grey, said: “We are excited to partner with SoftBank Group as we continue to develop innovative solutions that help our customers automate their supply chain operations. This transaction will enable us to accelerate our growth and bring our technology to more businesses around the world.”
The go-private transaction is subject to approval by Berkshire Grey’s shareholders and regulatory authorities. If approved, the deal is expected to close in the second half of 2021.
The collaboration between Berkshire Grey and SoftBank Group is a testament to the growing importance of robotics and automation in the logistics and fulfillment industry. As businesses look for ways to streamline their operations and improve efficiency, AI-powered robots are becoming an increasingly popular solution.
With SoftBank Group’s backing, Berkshire Grey is well-positioned to capitalize on this trend and become a leading provider of robotic solutions for logistics and fulfillment. The go-private transaction is a significant milestone for the company and a sign of its bright future in the world of automation.
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