Softbank Corp. plans to acquire robot manufacturer Berkshire Grey for $218 million

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com, February 13 (Xinhua) after suspending almost all investment activities for several months, Softbank Corp. chose to move into logistics automation, offering $218 million (currently about 1.485 billion yuan) for all shares not yet owned by robot maker Berkshire Grey.

CTOnews.com noted that the global technology investment company issued a non-binding letter of intent earlier this week to buy Berkshire Grey shares at $1.30 a share, according to filings with the Securities and Exchange Commission. Softbank Corp. currently owns a 28.1% stake in the Delaware-based robot maker, which makes robots that are mainly used to package and transport products in e-commerce warehouses. At the time of submitting the application, Berkshire Grey had slightly more than 233 million common shares outstanding.

According to the documents, Softbank Corp. sought to fully acquire 100 per cent of Berkshire Grey's outstanding shares through share acquisitions, takeover offers, mergers or other means. The company said the offer was only a preliminary proposal and was still subject to due diligence and approval by the Softbank Corp. Investment Committee.

A few days ago, Softbank Corp. released its latest quarterly financial report, which showed a net loss of 783 billion yen ($5.9 billion). The main reason for the loss was Vision Fund Investment, which invested billions of dollars in start-ups with falling valuations, resulting in a loss of about $5 billion for the fourth consecutive quarter.