SoftBank has announced its investment in Cubic Telecom, a startup that develops software-defined network solutions for connecting cars and other vehicles to mobile phone networks. SoftBank will hold a 51.0% stake in Cubic Telecom, with an investment of approximately 473 million euros, valuing the company at over 900 million euros.
This deal establishes Cubic Telecom as a subsidiary of SoftBank, with CEO Barry Napier remaining in his position. However, SoftBank executives will join the company’s board of directors.
Currently, Cubic Telecom’s platform has connected mobile phone networks in over 90 countries and facilitated the connection of more than 17 million vehicles in 190 countries. The company sees a monthly growth rate of around 450,000 connected vehicles and expects this trend to accelerate significantly in the next five years.
TLDR: SoftBank has invested approximately 473 million euros, acquiring a 51.0% stake in Cubic Telecom, a startup specializing in software-defined network solutions for vehicle connectivity. This investment enables Cubic Telecom to become a subsidiary of SoftBank and marks a significant growth opportunity for the company in the global market.
Leave a Comment