The Robot Report

  • Home
  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Humanoids
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Business
    • Financial
      • Investments
      • Mergers & Acquisitions
      • Earnings
    • Markets
      • Agriculture
      • Healthcare
      • Logistics
      • Manufacturing
      • Mining
      • Security
    • RBR50
      • RBR50 Winners 2025
      • RBR50 Winners 2024
      • RBR50 Winners 2023
      • RBR50 Winners 2022
      • RBR50 Winners 2021
  • Resources
    • Automated Warehouse Research Reports
    • Digital Issues
    • eBooks
    • Publications
      • Automated Warehouse
      • Collaborative Robotics Trends
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness
    • Robotics Summit & Expo
    • DeviceTalks
    • R&D 100
    • Robotics Weeks
  • Podcast
    • Episodes
  • Advertise
  • Subscribe

Berkshire Grey to join Softbank Group

By Mike Oitzman | March 27, 2023

berkshire grey

Berkshire Grey produces ecommerce fulfillment automation systems that autonomously bring inventory to sorting and picking stations to assemble customer orders. | Credit: Berkshire Grey

Berkshire Grey, Inc. said that it has reached a final agreement to merge with SoftBank Group Corp. and its affiliate, which are both known as “SoftBank.” Under the terms of the agreement, SoftBank will buy all of the company’s outstanding capital stock that it does not already own for $1.40 per share. This is a cash deal worth about $375 million. SoftBank is a strategic investment holding company with investments in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers. In January 2020, Softbank participated in Berkshire Grey’s $263 million Series B financing round.

“After a thoughtful review of value creation opportunities available to Berkshire Grey, we are pleased to have reached this agreement with SoftBank, which we believe offers significant value to our stockholders,” said Tom Wagner, CEO of Berkshire Grey. “SoftBank is a great partner, and this merger will strengthen our ability to serve customers with our disruptive AI robotics technology as they seek to become more efficient in their operations and maintain a competitive edge.”

“As a long-time partner and investor in Berkshire Grey, we have a shared vision for robotics and automation,” said Vikas J. Parekh, Managing Partner at SoftBank Investment Advisers. “Berkshire Grey is a pioneer in transformative, AI-enabled robotic technologies that address use cases in retail, eCommerce, grocery, 3PL, and package handling companies. We look forward to partnering with Berkshire Grey to accelerate their growth and deliver ongoing excellence for customers.”

The agreement, which was approved by Berkshire Grey’s board of directors unanimously, is worth about 24% more than the stock price at the end of trading on March 24, 2023, the last trading day before this announcement. The deal doesn’t depend on financing, and it’s expected to close in the third quarter of 2023, as long as the usual closing conditions are met, such as the approval of Berkshire Grey’s stockholders and approvals from government agencies.

As recently as Q2 2022, Berkshire Grey reported a loss of $29 million on $23.4 million in revenue.  The company has raised a total of $428 million to date (source: Crunchbase), and it went public in July 2021 in a SPAC deal.

About The Author

Mike Oitzman

Mike Oitzman is Senior Editor of WTWH's Robotics Group and founder of the Mobile Robot Guide. Oitzman is a robotics industry veteran with 25-plus years of experience at various high-tech companies in the roles of marketing, sales and product management. Mike has a BS in Systems Engineering from UCSD and an MBA from Golden Gate University. He can be reached at moitzman@wtwhmedia.com.

Comments

  1. James Repko says

    March 28, 2023 at 8:35 pm

    This is good for BG, as it was getting low on cash and burning about $10M/quarter. It is not great for the logistics automation industry as BG is by far the largest player in terms of revenue and revenue growth, but demonstrates the extremely high COGS and company overhead, including very expensive s/w engineering costs.

    Reply

Tell Us What You Think! Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles Read More >

kilted kaiju logo in a green background.
Kilted Kaiju ROS 2 release details are available
Jorgen Pedersen, the ARM Institute's new CEO, will be at its annual member meeting, shown here.
ARM Institute appoints Jorgen Pedersen as new CEO
Artedrone's Sasha autonomous mechanical thrombectomy system.
Microrobot system is designed to float inside stroke patient for autonomous thrombectomy
Mbodi AI is working with partners such as ABB.
Mbodi AI launches on Y Combinator, developing embodied AI for industrial robots

RBR50 Innovation Awards

“rr
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest info on technologies, tools and strategies for Robotics Professionals.
The Robot Report Listing Database

Latest Episode of The Robot Report Podcast

Automated Warehouse Research Reports

Sponsored Content

  • Sager Electronics and its partners, logos shown here, will exhibit at the 2025 Robotics Summit & Expo. Sager Electronics to exhibit at the Robotics Summit & Expo
  • The Shift in Robotics: How Visual Perception is Separating Winners from the Pack
  • An AutoStore automated storage and retrieval grid. Webinar to provide automated storage and retrieval adoption advice
  • Smaller, tougher devices for evolving demands
  • Modular motors and gearboxes make product development simple
The Robot Report
  • Mobile Robot Guide
  • Collaborative Robotics Trends
  • Field Robotics Forum
  • Healthcare Robotics Engineering Forum
  • RoboBusiness Event
  • Robotics Summit & Expo
  • About The Robot Report
  • Subscribe
  • Contact Us

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search The Robot Report

  • Home
  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Humanoids
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Business
    • Financial
      • Investments
      • Mergers & Acquisitions
      • Earnings
    • Markets
      • Agriculture
      • Healthcare
      • Logistics
      • Manufacturing
      • Mining
      • Security
    • RBR50
      • RBR50 Winners 2025
      • RBR50 Winners 2024
      • RBR50 Winners 2023
      • RBR50 Winners 2022
      • RBR50 Winners 2021
  • Resources
    • Automated Warehouse Research Reports
    • Digital Issues
    • eBooks
    • Publications
      • Automated Warehouse
      • Collaborative Robotics Trends
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness
    • Robotics Summit & Expo
    • DeviceTalks
    • R&D 100
    • Robotics Weeks
  • Podcast
    • Episodes
  • Advertise
  • Subscribe