Key Takeaway
ABB has recognized limited synergies between its Robotics division and other operations, citing differing market demands. CEO Morten Wierod stated that both ABB and SoftBank believe we are entering a new era of AI-based robotics, and that their collaboration can significantly shape this landscape. The partnership aims to combine ABB’s advanced technology and industry expertise with SoftBank’s capabilities in AI and next-gen computing, enhancing ABB Robotics’ position as a technology leader. This acquisition adds to SoftBank’s impressive portfolio, which recently included a $2 billion stake in Intel.
Limited synergies drive decision
ABB has recognized that it has encountered limited business and technological synergies between its Robotics division and its other divisions, with team members noting the distinct demand and market characteristics between robotics and its core operations.
“ABB and SoftBank share the same view that the world is entering a new era of AI-based robotics and believe that the division and SoftBank’s robotics offering can best shape this era together,” says Morten Wierod, CEO of ABB.
“ABB Robotics will gain from the integration of its leading technology and extensive industry expertise with SoftBank’s cutting-edge capabilities in AI, robotics, and next-generation computing,” he adds.
“This will enable the business to reinforce and expand its position as a technology leader in its sector.”
This acquisition marks another significant addition to SoftBank’s portfolio this year, with the Japanese firm already acquiring a US$2bn stake in Intel earlier this summer.
Original article: technologymagazine.com.
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