Softbank eats up 40% in Auto store
Softbank, Japanese Tech Conglomerate, seems to be in disconnect with her brakes for investment. The company which made a name for herself by being an early-stage investor in Alibaba, China’s leading e-commerce company, is propelling in all thinkable dimensions to keep the tech ecosystem within her reach. Today, it made news that she just acquired 40% stake in Auto store, A Norwegian warehouse automation firm. This deal which closed at an estimate of $2.8 billion would give the firm a slice of the logistic market, has this is the backbone of commerce and goods (and services) need effective preservation for longevity.
“We view AutoStore as a foundational technology that enables rapid and cost-effective logistics for companies around the globe,” SoftBank CEO and founder Masayoshi Son said in a statement. “We look forward to working with AutoStore to aggressively expand across end markets and geographies.”
This fund, which would help the brand grow it base into Asia-Pacific region as said by the president and CEO of AutoStore Karl Johan Lier, is an expansion from its current servicing points of 600 sites across 35 countries with the aid of 20,000 robots. The technology allows customers to either store four times the inventory in the same place or all of their existing inventory in 25% of the place.
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Notable customers of the brand include U.S. electronics retailer Best Buy, Siemens of Swedish and the grocery chain of British Asda.
For Your Information: Softbank was founded in September 3, 1981,
Subsidiaries: 1,475 (As of March 31, 2020),
Associates: 455 (As of March 31, 2020),
Joint ventures: 27 (As of March 31, 2020).
Softbank is on harvest period in markets.
