Berkshire Grey, a leading robotics and AI company, has announced a collaboration with SoftBank Group for a go-private transaction. The deal is valued at $2.7 billion and will allow Berkshire Grey to become a privately held company.
The collaboration between Berkshire Grey and SoftBank Group is a significant move for both companies. Berkshire Grey is a leader in the robotics and AI industry, with a focus on developing advanced automation solutions for e-commerce, retail, and logistics industries. SoftBank Group, on the other hand, is a global technology company that invests in innovative businesses and startups.
The go-private transaction will provide Berkshire Grey with the necessary capital to accelerate its growth and expand its product offerings. SoftBank Group will provide the majority of the funding for the deal, with additional support from other investors. The transaction is expected to close in the second half of 2021, subject to regulatory approvals.
According to Tom Wagner, CEO of Berkshire Grey, the collaboration with SoftBank Group will enable the company to continue its mission of transforming the way goods are handled and delivered. He stated, “We are excited to partner with SoftBank Group to accelerate our growth and bring our advanced robotics and AI solutions to more customers around the world.”
The collaboration between Berkshire Grey and SoftBank Group is also significant for the robotics and AI industry as a whole. The deal highlights the growing importance of automation in industries such as e-commerce and logistics, where companies are looking for ways to increase efficiency and reduce costs.
SoftBank Group has a history of investing in innovative companies in the technology sector. The company’s Vision Fund has invested in several high-profile startups, including Uber, WeWork, and DoorDash. The collaboration with Berkshire Grey is another example of SoftBank Group’s commitment to investing in cutting-edge technology companies.
In conclusion, the collaboration between Berkshire Grey and SoftBank Group for a go-private transaction is a significant move for both companies and the robotics and AI industry as a whole. The deal will provide Berkshire Grey with the necessary capital to accelerate its growth and expand its product offerings, while SoftBank Group continues to invest in innovative technology companies. The transaction is expected to close in the second half of 2021, and it will be interesting to see how the collaboration between these two companies develops in the future.
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