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Business deals

SoftBank's Vision Fund buys into US unicorn Automation Anywhere

Saudi-backed fund's $300m gives access to AI-based office process tech

SoftBank's Vision Fund will apply Automation Anywhere's office process technology in Japan, which is suffering from a declining population and workforce.

PALO ALTO, U.S. -- SoftBank Group's Saudi Arabia-backed Vision Fund has invested in another billion-dollar unicorn, Silicon Valley-based Automation Anywhere.

The San Jose, California, tech company announced on Thursday that it has raised $300 million from Vision Fund. Automation Anywhere develops robotic process automation, which uses AI-based software to substitute for simple work done by humans, such as filling in vouchers. The company sees an opportunity to expand its business in Japan, which is suffering from a declining population and workforce and seeking to increase work efficiency.

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