SoftBank introduced immediately that Dublin-based Cubic Telecom has turn out to be a subsidiary by way of its acquisition of a majority stake. Cubic Telecom is a supplier of software-defined linked car (SDCV) options, and its platform is embedded in automobiles on the level of manufacture, enabling OEMs to leverage software-defined applied sciences.
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Acquisition Announcement
In an official announcement immediately, SoftBank stated Cubic Telecom grew to become a subsidiary on March 6, 2024, following its acquisition of a 51.0 % fairness stake (after dilution).
SDCV is a time period that describes a car whose options and capabilities are primarily enabled by way of software program linked to the Web. SoftBank introduced in December that it could make investments roughly 473 million EUR in Cubic Telecom for a 51.0 % fairness stake within the firm, valuing it at over 900 million EUR.
Strategic Partnership Particulars
SoftBank has been offering international IoT connectivity companies, primarily in Asia-Pacific markets. On this new partnership with Cubic Telecom, SoftBank goals to make a full-fledged entry into the IoT markets for linked vehicles and software-defined automobiles, as introduced final December.
Along with Cubic Telecom turning into a subsidiary, SoftBank has launched new collaborative initiatives, together with gross sales cooperation to broaden the gross sales of Cubic Telecom’s international connectivity platform primarily within the Asia-Pacific (APAC) area and creating new companies.
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Collaborative Initiatives
Moreover, as a part of these initiatives, SoftBank just lately reached an settlement with Honda, whereby Honda will think about introducing Cubic Telecom’s connectivity platform, offered by SoftBank, to Honda automobiles in roughly 70 international locations and areas worldwide, excluding North America and China. SoftBank and Honda will additional discover implementing Cubic Telecom’s connectivity platform going ahead.
Moreover, SoftBank will collaborate carefully with Cubic Telecom to broaden the deployment of its international connectivity platform for SDCVs and adjoining markets. SoftBank additionally goals to leverage Cubic Telecom’s platform to deploy varied companies sooner or later, the official launch stated.
