Newscasts - SoftBank to buy ABB's robot business for $5.4 billion

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08/10/2025 14:47

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Source: 'Reuters - Business videos'

Description: SoftBank Group has agreed to buy the robotics business of Swiss engineering group ABB in a $5.4 billion deal, as the Japanese investor forges ahead with a strategy to fuse robotics and artificial intelligence. Ciara Lee reports.

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Video Transcript:

SoftBank Group has agreed to buy the robotics business of Swiss engineering group ABB, in a $5.4 billion deal. The Japanese investor is forging ahead with a strategy to fuse robotics and artificial intelligence. The acquisition is the latest by SoftBank as it seeks to become a core player in the development of AI. Its recent investments in the sector include Berkshire Grey and Auto Store. It also led a $40 billion funding round in ChatGPT maker OpenAI. The deal means ABB has abandoned its original decision to spin off and separately list the industrial automation business. It follows years of struggling sales and falling profitability for the robotics business. ABB's robotics division employs 7,000 people and generated sales of $2.3 billion last year, around 7% of ABB's total revenues. Its shares opened 2% higher in Zurich after the sale announcement.