Article: SoftBank pays $2.8B to acquire 40% stake in warehouse automation firm AutoStore

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SoftBank pays $2.8B to acquire 40% stake in warehouse automation firm AutoStore

DUNCAN RILEY, 05 April 2021

SoftBank Group Corp. said today it has invested $2.8 billion to acquire a 40% stake in Norwegian warehouse automation company AutoStore AS.

SoftBank, Japan’s largest telecommunications companies and one of the world’s largest venture capital firms, acquired shares in the company from funds affiliated with Thomas H. Lee Partners L.P. and EQT Private Equity, among other shareholders. According to the Wall Street Journal, the deal values AutoStore at $7.7 billion. Continue reading “Article: SoftBank pays $2.8B to acquire 40% stake in warehouse automation firm AutoStore”

Article: SEC is investigating Japanese investment giant SoftBank for market manipulation

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SEC is investigating Japanese investment giant SoftBank for market manipulation

DUNCAN RILEY, 25 March 2021

The U.S. Securities and Exchange Commission is investigating Japanese telecommunications company and investment giant SoftBank Group Corp. for alleged market manipulation.

Founded in 1981, SoftBank holds a significant share — 21.2% as of 2020 of Japan’s mobile phone subscription market — but is best known in the W est for its prolific investment portfolio. The list of companies SoftBank has invested in is too long to list but notable names include Uber Technologies Inc., Didi Chuxing Co. Ltd., Grab Holdings Inc., Nvidia Corp., TikTok owner ByteDance Ltd. and DoorDash Inc.

Along with operating the world’s largest technology-focused venture capital fund, Softbank has a particular interest in ride-hailing companies. Except for Lyft Inc., SoftBank owns significant minority stakes in just about every other company in the market. When Grab purchased Uber’s Southeast Asian arm in 2018, it was a deal between two SoftBank-funded companies. Continue reading “Article: SEC is investigating Japanese investment giant SoftBank for market manipulation”

Article: SEC Confirms Probe of SoftBank

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SEC Confirms Probe of SoftBank

Michelle Celarier, 24 March 2021

SoftBank is the subject of an active investigation by the Securities and Exchange Commission, according to PlainSite, a legal transparency initiative.

The research provider on Wednesday shared the SEC’s response to a Freedom of Information Act request by Aaron Greenspan, the founder of PlainSite, a joint venture of Think Computer Corporation and Think Computer Foundation.

Greenspan said the SEC probe appears to be related to SoftBank’s trading unit, SB Northstar. He told Institutional Investor that news last year about SoftBank’s options trading triggered his initial FOIA request, which was dated December 2, 2020. Continue reading “Article: SEC Confirms Probe of SoftBank”