ABB is selling its US$2.3 billion-a-year robotics arm to Japan’s SoftBank Group Corp for $5.375 billion.
It expects the deal to close mid-to-late next year.
“ABB and SoftBank share the same perspective 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,” ABB CEO Morten Wierod said.
SoftBank CEO Masayoshi Son said the company’s next frontier was physical artificial intelligence.
“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.”
ABB Robotics generated about 7% of 2024 ABB group revenues: $2.3 billion. It has about 7000 employees.
ABB chair Peter Voser said the company would continue to focus on building on its leading positions in electrification and automation.
