SoftBank Group Corp. acquires Berkshire Grey, Inc. (2023)

Deal facts

Buyer: SoftBank Group Corp.
Target: Berkshire Grey, Inc.
Deal value: Not disclosed
Announced: 24 March 2023
Status: Completed
Sector: Technology
Country: United States
Consideration: cash

Sources

SEC_EDGAR_8K

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Deal timeline

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20 Jul 2023CompletedClosed
SoftBank Group Corp. completes acquisition of Berkshire Grey, Inc.
Introductory Note This Current Report on Form 8-K is being filed in connection with the completion of the previously announced Merger (as described below) pursuant to the Agreement and Plan of Merger, dated as of March 24, 2023 (the “ Merger Agreement ”), by and among Berkshire Grey, Inc., a Delaware corporation (the “ Company ”), SoftBank Group Corp., a Japanese kabushiki kaisha (“ Parent ”) and
Source

OpinionExit Mode editorial

We see a clear signal in the cross-border acquisition of Berkshire Grey by SoftBank Group Corp. This transaction, announced on 24 March 2023 and now completed, moves a US technology firm into private ownership under a Japanese buyer. The deal structure is straightforward: a cash consideration that removes the target from public markets. For the SME founder watching from the other side of the Atlantic, this illustrates how global capital flows can bypass local market sentiment to secure control of specific technology assets. The shift from public to private status often allows management to focus on long-term product development without the quarterly pressure that defines life on a stock exchange.

The mechanics here are worth noting for any founder considering a similar path. A cash-only going-private transaction eliminates the uncertainty of share-based consideration and removes the volatility of public market pricing. While the specific valuation remains undisclosed, the speed and certainty of a cash deal often appeal to founders who need liquidity without the drag of a prolonged public offering process. The cross-border nature of this deal also highlights the importance of understanding regulatory clearance. A Japanese buyer acquiring a US technology firm will trigger scrutiny from both US and Japanese authorities regarding competition and national security. This is not merely a formality but a substantive hurdle that can delay completion or force divestments.

We think the broader lesson for the UK founder is that sector specificity often outweighs geography when global buyers are active. SoftBank's interest in robotics and automation within Berkshire Grey suggests that deep tech capabilities are in high demand regardless of the buyer's home base. However, the lack of public disclosure on value means founders must rely on their own valuation discipline rather than market comps. The absence of an earn-out structure in a cash deal also implies the buyer sees sufficient value to pay upfront, which reduces the risk of post-closure disputes over performance targets.

Your immediate action this week is to map your core technology stack against the strategic priorities of the three largest private equity or strategic buyers in your sector, then draft a one-page summary of how your assets solve their specific operational bottlenecks. Do not wait for an approach. Identify the specific regulatory body in your target buyer's country that would review your deal and prepare a preliminary assessment of any competition or national security concerns they might raise. This preparation will distinguish your business when you eventually enter the market.

Editorial opinion. Not financial or legal advice.

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