TOKYO -- SoftBank Group on Tuesday said it will establish a robotics joint venture with a unit of Saudi Arabia's sovereign wealth fund to manufacture industrial robots.
The deal is part of a strategic partnership between technology investor SoftBank and Alat, a newly established unit of Saudi's Public Investment Fund, according to a news release. The two sides will invest up to $150 million "to establish a fully automated manufacturing and engineering hub in Riyadh that will serve local and global demand."
