Berkshire Grey, a leading provider of AI-powered robotic solutions, has announced that it will be going private through a merger with SoftBank Group. The deal, which is valued at $2.7 billion, will see SoftBank acquire all outstanding shares of Berkshire Grey, making it a wholly-owned subsidiary of the Japanese conglomerate.
The move to go private is aimed at allowing Berkshire Grey to accelerate its growth and innovation in the rapidly evolving robotics industry. By being a private company, the company will have more flexibility and resources to invest in research and development, expand its product offerings, and pursue strategic partnerships and acquisitions.
SoftBank, which has a strong track record of investing in cutting-edge technology companies, sees the acquisition of Berkshire Grey as a strategic move to strengthen its position in the robotics industry. The company has already made significant investments in robotics, including its acquisition of Boston Dynamics in 2017 and its investment in Brain Corp, a provider of AI-powered autonomous navigation systems for robots.
The merger between Berkshire Grey and SoftBank is expected to create significant synergies between the two companies. Berkshire Grey’s expertise in AI-powered robotics will complement SoftBank’s existing portfolio of robotics companies, while SoftBank’s global reach and financial resources will provide Berkshire Grey with the support it needs to expand its operations and scale its business.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2021. Upon completion of the merger, Berkshire Grey will become a privately held company and will no longer be listed on any public stock exchange.
In conclusion, the merger between Berkshire Grey and SoftBank Group is a significant development in the robotics industry. The move to go private will provide Berkshire Grey with the resources it needs to accelerate its growth and innovation, while SoftBank’s investment in the company will strengthen its position in the robotics market. With the transaction expected to close later this year, it will be interesting to see how the two companies will work together to drive innovation and growth in the robotics industry.
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- Source: Plato Data Intelligence: PlatoData