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Investing.com-- SoftBank Group (TYO:9984) shares surged on Thursday after the company agreed to buy Swiss firm ABB’s (SIX:ABBN) robotics division for about $5.4 billion, underlining its push deeper into artificial intelligence and automation.
Softbank shares jumped as much as 13% to 23,335 yen in Tokyo trade following the announcement late on Wednesday.
The deal will see ABB carve out its robotics business, which employs around 7,000 people and generated $2.3 billion in revenue in 2024, into a new holding company before transferring ownership to SoftBank.
The transaction is expected to close in mid- to late-2026, pending regulatory approvals in the United States, European Union, and China.
SoftBank founder and CEO Masayoshi Son said the acquisition would accelerate the group’s “Physical AI” strategy by integrating robotics with advanced AI capabilities.