Softbank acquires Norwegian AutoStore for 24 billion kroner

FinancesPhoto: Markus Winkler / Unsplash

The Japanese technology fund Softbank is buying 40% of the Norwegian robotic solutions company AutoStore for NOK 24 billion.

According to a joint press release from the companies, the agreement values ​​the Norwegian company at as much as USD 7.7 billion – over NOK 65 billion at today’s exchange rate.

AutoStore creates robotic solutions for inventory management and efficiency and has customers in 35 countries, including Puma, Siemens, and Norwegian Komplett.

Softbank’s fund invests heavily in some of the world’s hottest start-up and technology companies and has interests in everything from artificial intelligence to biotechnology.

The purchase price means that AutoStore’s value has quadrupled since 2019, which was the last time a major transaction was carried out with the company’s shares, according to newspaper Dagens Næringsliv (DN).

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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