Reported about 21 hours ago
ABB has entered into an agreement to sell its robotics division to SoftBank Group for $5.38 billion, marking a shift from its original plan to spin off the unit. The sale is set to close between mid and late 2026 and will provide ABB with approximately $5.3 billion to fund future investments and shareholder returns. The robotics division, which employs 7,000 staff and generated $2.3 billion in sales last year, accounted for 7% of ABB's total revenue but had limited synergy with its core electrification and automation business.
Source: YAHOO