ABB to Sell Robotics Business to SoftBank for $5.3 Billion

Zurich, Oct 8 (Reuters) – ABB announced on Tuesday it has agreed to sell its robotics business to SoftBank Group Corp for $5.3 billion. The transaction is expected to be completed in the first half of 2025.

Strategic Divestment and Future Focus

The sale of the robotics division is part of ABB's strategy to concentrate on its electrification and automation businesses. ABB stated that the proceeds from the divestment will be used to strengthen its balance sheet and support its portfolio management. The company has indicated a continued commitment to its core operations and future growth in these areas.

SoftBank's Acquisition and Synergies

SoftBank, a Japanese conglomerate, has a significant interest in technology and artificial intelligence. While specific details regarding SoftBank's plans for the acquired robotics business were not provided in the announcement, the acquisition aligns with SoftBank's broader investment strategy in automation and technological advancements. The deal signifies a major move by SoftBank to expand its presence in the robotics sector.

Financial Terms and Outlook

The agreement values ABB's robotics business at $5.3 billion, with the transaction subject to regulatory approvals and customary closing conditions. ABB anticipates that the sale will contribute positively to its financial performance moving forward.

In summary, ABB is divesting its robotics division to SoftBank for $5.3 billion as part of a strategic realignment. This move is intended to allow ABB to focus on its core electrification and automation segments, while SoftBank acquires a substantial robotics operation. The transaction is anticipated to conclude in the first half of 2025.