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robotics/news//Bloomberg
SoftBank Group Corp.’s stock surged as much as 13% to a fresh intraday high.
SoftBank Group agreed to acquire ABB Ltd.'s industrial robots unit for about $5.4 billion.
KEY POINTS
The acquisition is expected to strengthen SoftBank's profit growth from artificial intelligence initiatives.
SoftBank's stock surged up to 13% following the robotics acquisition announcement.
The Nikkei 225 index rose 1.5%, bolstered by SoftBank's stock performance.
SoftBank Group Corp.’s stock surged as much as 13% to a fresh intraday high as its plan to buy ABB Ltd.’s robotics arm boosted expectations for profit growth from artificial intelligence.
The Japanese investment firm agreed to acquire the Swiss conglomerate’s industrial robots unit for around $5.4 billion in a deal announced during Tokyo market hours on Wednesday. The climb in SoftBank helped bolster Japan’s blue-chip Nikkei 225, which rose as much as 1.5% on Thursday morning, outpacing the broader Topix Index.