Alibaba, Foxconn To Invest $240M In SoftBank Robotics

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Alibaba Group Holdings and Foxconn Technology Group have agreed to each invest 14.5 billion Japanese Yen (US$120 million) in SoftBank Corp’s robotic subsidiary, according to a joint announcement.

Upon completion of the deal, Alibaba and Foxconn will each hold 20% of SoftBank Robotics Holdings Corp, while parent SoftBank will own the other 60%.

Alibaba and Foxconn say they plan to help bring SoftBank Robotics’ products to the global markets. 

China Money Network

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