Robot Storage and Fulfillment Technology Provider AutoStore yesterday announced a Japanese technology conglomerate with strong new financial backers SoftBank Group Corp. has paid $ 2.8 billion to purchase a 40% stake in the company. And we plan to help the company “aggressively expand” into new markets.
SoftBank purchased shares from existing investors Thomas H. Lee Partners LP (THL), EQT Private Equity, and other shareholders. Despite the size of the deal, private equity fund THL remains a major shareholder in AutoStore. In addition, THL, SoftBank and EQT will each have representatives on the board of directors of the Norwegian-based AutoStore.
New investor SoftBank also owns a wide range of holdings in various logistics technology companies, including shares in warehouse robotics and automation providers. Berkshire Gray, Robotics vendor Boston dynamics, Third Party Logistics (3PL) Provider ShipBob, Artificial intelligence (AI) company Brain Corporation, Technology vendor Simbe Robotics Inc., And Autonomous Mobile Robot (AMR) Vendors Fetch Robotics Inc.
“AutoStore is seen as a foundational technology that enables businesses around the world to achieve fast and cost-effective logistics. In its release, SoftBank Chairman Masayoshi Son will work with AutoStore to reach the end market and across the region. I am looking forward to expanding the market.
AutoStore Automated storage and retrieval system (AS / RS) And software creates high-density cubes of robot inventory storage, allowing customers to store four times as much inventory in the same space or pack all existing inventory into 25% of the space. According to the company, the company’s customer base has more than 600 facilities and 20,000 robots in 35 countries.
This move happens just a week after the AutoStore says it had Working with system integrator Bastian Solutions to provide an automated MicroFulfillment Center (MFC) For Asian-American specialty grocery store H Mart. Under the agreement, AutoStore will support the operation of H Mart’s online grocery store in Carlstadt, NJ. AutoStore installs a solution behind the store, allowing retailers to reduce the average distance between MFCs and customers, allowing in-store receipt and speed of a variety of grocery packaged products in addition to perishables and frozen products. We support both home delivery. ..
Although its holdings at the AutoStore have shrunk, THL is still bullish on logistics technology and has holdings that include a supply chain visibility platform. FourKites, Inventory automation provider Material Handling Systems Inc. (MHS), And a supply chain system design and integration company Fortna Co., Ltd.
I will let you know @SoftBank_Group With a $ 2.8 billion investment in AutoStore Systems, our value is approximately $ 7.7 billion. This deal will help strengthen our global leadership, accelerate growth and unleash our great potential.https://t.co/NZjpEMVCMe
— AutoStore (@AutoStoresystem) April 5, 2021
Softbank plans to “aggressively expand” the company into new markets by buying a 40% stake in Autostore
https://www.dcvelocity.com/articles/50124-softbank-buys-40-share-in-autostore-plans-to-aggressively-expand-firm-into-new-markets Softbank plans to “aggressively expand” the company into new markets by buying a 40% stake in Autostore