The deal values AutoStore, which was incorporated in 1996, at $7.7 billion. SoftBank, which has made a string of investments into e-commerce and robotics over the last few years, is buying the stake from U.S. private equity group Thomas H Lee Partners and Swedish venture capital firm EQT. "We view AutoStore as a foundational technology that enables rapid and cost-effective logistics for companies around the globe," said SoftBank CEO and founder Masayoshi Son in a statement. He added: "We look forward to working with AutoStore to aggressively expand across end markets and geographies." Founded by Ingvar Hognaland and headquartered in a village near Bergen called Nedre Vats, AutoStore has developed what it calls "cube storage automation," which enables robots to maximize storage space in warehouses.