TOKYO (dpa-AFX) - SoftBank has agreed to buy 40% stake in AutoStore, a robotics and software company, from funds affiliated with Thomas H. Lee Partners, L.P. and EQT Private Equity for $2.8 billion.
Thomas Lee Partners will continue to be AutoStore's majority shareholder and THL, SoftBank and EQT will each have representatives on AutoStore's Board of Directors.
Masayoshi Son, Chairman & CEO of SoftBank Group Corp. said: 'We view AutoStore as a foundational technology that enables rapid and cost-effective logistics for companies around the globe. We look forward to working with AutoStore to aggressively expand across end markets and geographies.'
The transaction is subject to customary closing conditions and is expected to be completed in April 2021.
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