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SoftBank bulks up its robotics portfolio with ABB Group's robotics unit

Japanese investing conglomerate SoftBank Group is buying a robotics company as the financial behemoth says physical AI is its next frontier.  SoftBank announced on Wednesday that it has acquired Zurich, Switzerland-based ABB Group’s robotics business unit for $5.375 billion. The deal is subject to regulatory approval; SoftBank predicts the deal will close in mid-to-late 2026 according to a press release. Sami Atiya, the head of the division, will exit the company once the acquisition is complete, per ABB Gr ...