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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. ....
SoftBank has invested $2.8 billion in Norwegian robotics firm AutoStore msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.