All articles tagged with #abb
SoftBank is acquiring ABB's robotics division for $5.4 billion, marking a strategic move into AI-based robotics and ending ABB's plans to spin off the unit. The deal aims to combine ABB's technology with SoftBank's AI capabilities, with the transaction expected to close by late 2026 and generate significant cash proceeds for ABB to invest in growth and shareholder returns.
ABB is selling its Robotics division to SoftBank for $5.375 billion, aiming to leverage combined AI and robotics expertise, while using the proceeds to strengthen its core business areas and focus on electrification and automation.
ABB, a Swiss engineering company, is facing accusations of neglecting a critical security vulnerability in its China-made cranes, which could potentially allow hackers to take control of the equipment. The vulnerability was discovered by a cybersecurity firm, and ABB has been criticized for not taking sufficient action to address the issue despite being aware of it for over a year. This incident highlights the growing concerns around cybersecurity in the manufacturing industry and the need for companies to prioritize addressing such vulnerabilities.