Softbank to buy 40% stake in robotics company AutoStore for $2.8bn

Japan’s Softbank has agreed to buy a 40% stake in Norwegian robotics and software company AutoStore for $2.8bn.

The stake will be bought from funds affiliated with Thomas H. Lee Partners (THL) and EQT Private Equity, among other shareholders. THL will continue to be AutoStore’s majority shareholder and THL, SoftBank and EQT will each have representatives on the company’s board of directors.

Softbank chairman and chief executive Masayoshi Son said: "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."

Founded in 1996, AutoStore invented and continues to pioneer Cube Storage Automation, the densest storage technology. Its focus is to combine software and hardware with human capabilities to further develop the future of efficient warehouses.

More than 20,000 AutoStore robots are currently deployed in over 600 installations across 35 countries.