In context
In early 2023, the supply chain robotics sector was consolidating as major technology investors sought to scale automation offerings. Berkshire Grey, a prominent AI-enabled robotics provider, had been exploring strategic alternatives, making it a target for acquisition.
What was reported
Berkshire Grey confirmed receiving a non-binding indication of interest from SoftBank Group to acquire all outstanding shares at $1.30 per share in cash. With over 230 million shares outstanding, the offer is worth approximately $300 million, though Bloomberg reported a lower figure of $218 million.
The potential deal is contingent on due diligence and negotiation of definitive documents. Berkshire Grey is also evaluating other alternatives, including financing transactions, and its board will consider SoftBank's interest alongside these options.
In a statement, Berkshire Grey cautioned that no assurance exists that a definitive transaction will be consummated, and it will not comment further unless the board approves a specific deal.
“No assurance can be given that a definitive transaction with respect to SoftBank’s indication of interest or any other potential transaction will eventually be consummated.”
Why it mattered
This acquisition interest underscored the growing strategic value of AI-driven robotic automation in logistics, as major investors sought to consolidate capabilities in a market poised for expansion.
Source: Robotics & Automation News (roboticsandautomationnews.com) · Published 2023-02-13 · “Berkshire Grey confirms acquisition interest from SoftBank”