China blocks SoftBank's $5.4 billion takeover of ABB's robotics division
China blocks SoftBank’s $5.4 billion takeover of ABB’s robotics division, FT reports
According to a Financial Times report cited by Reuters, China has blocked SoftBank's acquisition of ABB's robotics business. The National Development and Reform Commission (NDRC) rejected the deal due to national security concerns over transferring robotics data overseas for AI training, particularly involving models from OpenAI where SoftBank is a major investor. This decision impacts ABB's largest market, which accounts for around 30% of its robots business.
Source: Robotics — Web news discovery · Read original article ↗
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Publisher-reported claims, with original evidence. These results have not been independently verified by RoboSignal.
Reported numbers
robots
≈15,000
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ETA.O) to unwind its $2 billion-plus acquisition of artificial intelligence startup Manus, as Beijing tightens scrutiny of US investment in domestic startups developing frontier technologies. • China is ABB's biggest robots market, representing around 30% of its robots business. ABB operates around 30 local companies in China with about 15,000 employees located in nearly 130 cities and online and offline channels in
Open source S4
- paper: not_reported
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China blocks SoftBank’s $5.4 billion takeover of ABB’s robotics division, FT reports
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Nov 5 (Reuters) - China has told Japanese investor SoftBank it will not allow the $5.4 billion acquisition of the robotics segment of Swiss engineering group ABB to go ahead, the Financial Times reported on Thursday, citing multiple people familiar with the matter. Here are some details: • China's state planner, the National Development and Reform Commission (NDRC), would block the deal, the report said. • SoftBank h
Open source S2
ETA.O) to unwind its $2 billion-plus acquisition of artificial intelligence startup Manus, as Beijing tightens scrutiny of US investment in domestic startups developing frontier technologies. • China is ABB's biggest robots market, representing around 30% of its robots business. ABB operates around 30 local companies in China with about 15,000 employees located in nearly 130 cities and online and offline channels in
Open source S4
ad agreed to buy ABB's robotics business in October last year, as CEO Masayoshi Son sought to establish SoftBank as a core player in the development of artificial intelligence. • SoftBank had expected the deal to be approved until last week, the newspaper said. • The NDRC reviews foreign investment in the country that might have national security implications. Earlier this year, the NDRC ordered US tech giant Meta (M
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report added. • SoftBank shares, already down about 5% in Tokyo, were little changed after the FT report. • Reuters could not immediately verify the report. SoftBank declined to comment. ABB did not respond to Reuters' requests for comment. China's NDRC could not be reached. (Reporting by Sumedha Mukherjee in Bengaluru, Anton Bridge in Tokyo and Kane Wu in Hong Kong; Editing by Mrigank Dhaniwala, Jochelle Mendonca an
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