SoftBank and ABB explore options for China robotics deal

SoftBank, ABB explore options for China robotics deal

Summary

Japan's SoftBank and Swiss engineering group ABB are reportedly exploring options to carve out their Chinese robotics operations after a broader $5.4-billion deal was blocked by Beijing earlier this week. According to Bloomberg News, citing people familiar with the matter, the companies could establish a separate entity for the China business with different ownership. This marks the second major foreign investment involving frontier technologies blocked by China this year, following Meta's order to unwind its acquisition of AI startup Manus. ABB is also considering other options, including finding another buyer, as China remains its biggest robotics market, accounting for about 30 percent of its robotics business. The report notes that ABB operates approximately 30 local companies in China with around 15,000 employees across nearly 130 cities.

Source: Robotics — Web news discovery · Read original article ↗

Article text · Original source · English

JAPAN's SoftBank and Swiss engineering group ABB are looking at carving out the Chinese element of a $5.4-billion robotics deal which was blocked earlier this week by Beijing, Bloomberg News reported on Saturday, citing people familiar with the matter.

SoftBank did not respond to requests for comment outside business hours and ABB declined to comment on the report which said that a carve-out would mean setting up a separate entity for the China business with different ownership.

This is the second deal blocked by China this year after Meta was ordered in April to unwind its more than $2-billion acquisition of artificial intelligence (AI) startup Manus, as Beijing tightens scrutiny of foreign investment involving frontier technologies.

ABB is also considering other options including finding another buyer, the report said, adding that the business could potentially be valued at $2 billion to $3 billion.

China is ABB's biggest robotics market and accounts for about 30 percent of its robotics business. It operates about 30 local companies in China with around 15,000 employees in nearly 130 cities, as well as online and offline channels in nearly 700.

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What the source reports

Publisher-reported claims, with original evidence. These results have not been independently verified by RoboSignal.

Reported numbers

cities
130
View original evidence
that the business could potentially be valued at $2 billion to $3 billion. China is ABB's biggest robotics market and accounts for about 30 percent of its robotics business. It operates about 30 local companies in China with around 15,000 employees in nearly 130 cities, as well as online and offline channels in nearly 700. Get the latest news delivered to your inbox Sign up for The Manila Times newsletters By signing
Open source S4
channels
700
View original evidence
that the business could potentially be valued at $2 billion to $3 billion. China is ABB's biggest robotics market and accounts for about 30 percent of its robotics business. It operates about 30 local companies in China with around 15,000 employees in nearly 130 cities, as well as online and offline channels in nearly 700. Get the latest news delivered to your inbox Sign up for The Manila Times newsletters By signing
Open source S4

paper: not_reported

Source excerpts and review record

Automatically extracted; no manual editorial approval recorded.

that the business could potentially be valued at $2 billion to $3 billion. China is ABB's biggest robotics market and accounts for about 30 percent of its robotics business. It operates about 30 local companies in China with around 15,000 employees in nearly 130 cities, as well as online and offline channels in nearly 700. Get the latest news delivered to your inbox Sign up for The Manila Times newsletters By signing
Open source S4

JAPAN's SoftBank and Swiss engineering group ABB are looking at carving out the Chinese element of a $5.4-billion robotics deal which was blocked earlier this week by Beijing, Bloomberg News reported on Saturday, citing people familiar with the matter. SoftBank did not respond to requests for comment outside business hours and ABB declined to comment on the report which said that a carve-out would mean setting up a s
Open source S2

eparate entity for the China business with different ownership. This is the second deal blocked by China this year after Meta was ordered in April to unwind its more than $2-billion acquisition of artificial intelligence (AI) startup Manus, as Beijing tightens scrutiny of foreign investment involving frontier technologies. ABB is also considering other options including finding another buyer, the report said, adding
Open source S3