SFTBY - SoftBank pays $2.8B for stake in warehouse automation company AutoStore

SoftBank ([[SFTBF]],[[SFTBY]]) enters into a definitive agreement to acquire a 40% stake of Norwegian warehouse automation company AutoStore for $2.8B, which gives AutoStore a $7.7B enterprise value.SoftBank will purchase the shares from AutoStore owner Thomas H. Lee Partners, which will remain majority sharehower, and EQT Private Equity.THL, SoftBank, and EQT will all have a representative on AutoStore's board of directors.AutoStore says it currently has a global customer base with more than 600 installations and 20,000 robots across 35 countries."We view AutoStore as a foundational technology that enables rapid and cost-effective logistics for companies around the globe. We look forward to working with AutoStore to aggressively expand across end markets and geographies," says SoftBank CEO Masayoshi Son.Related: Earlier today, reports suggested that SoftBank is near investing $1.2B in genetic testing company Invitae.

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SoftBank pays $2.8B for stake in warehouse automation company AutoStore