SoftBank Group has agreed to buy the robotics division of the Swiss engineering firm ABB for $5.4 billion. The acquisition is part of SoftBank’s strategy to place itself at the center of the ongoing artificial intelligence boom.
Earlier this year, ABB announced that it would spin off its robotics division as a separately listed company, but this will no longer go ahead, as long as SoftBank’s deal is approved by regulators.
SoftBank founder Masayoshi Son said that the next frontier for the company was Physical AI. Physical AI refers to a branch of AI that allows machines to perceive, understand, and interact with the physical world by processing data from sensors and actuators. Son said that this acquisition will help to unite “world-class technology and talent” to fuse Artificial Super Intelligence (ASI) and robotics.
Masayoshi Son, Chairman & CEO, SoftBank Group Corp., said, “SoftBank’s next frontier is Physical AI. Together with ABB Robotics, we will unite world-class technology and talent under our shared vision to fuse Artificial Super Intelligence and robotics — driving a groundbreaking evolution that will propel humanity forward.”
The acquired platform, expertise, and local footprint of ABB Robotics will be benefited by the technological foundations of SoftBank’s existing robotics-related investments. These existing investments include SoftBank Robotics Group Corp., Berkshire Grey, Inc., AutoStore Holdings Ltd, Agile Robots SE, and Skild AI, Inc.
The combined entity is intended to accelerate innovation in AI robotics and drive progress toward the realization of artificial super intelligence, using ABB business’s extensive sales channels and customer relationships.
ABB Robotics has 7,000 employees that are part of the acquisition. One of these is Marc Segura who is currently President of ABB Robotics Division - he will represent the division after the acquisition.
ABB Robotics is involved in a very futuristic business space; the development, manufacture, and sale of industrial robots. By working more closely with SoftBank’s businesses it might be able to achieve its objectives faster.
Source: SoftBank