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    Home»IPO»SoftBank-backed robotics firm Berkshire Grey to go public via $2.7 billion SPAC deal
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    SoftBank-backed robotics firm Berkshire Grey to go public via $2.7 billion SPAC deal

    February 25, 20211 Min Read
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    SoftBank-backed robotics firm Berkshire Grey said on Wednesday it has agreed to go public through a merger with a blank-check firm in a deal that values the combined company at $2.7 billion

    The deal with Revolution Acceleration Acquisition Corp is expected to provide Berkshire Grey about $413 million in cash, as the maker of logistics automation systems looks to take advantage of a surge in online shopping amid the COVID-19.

    Shares of Revolution Acceleration jumped by 18.8% on Wednesday following the announcement.

    “Whether it’s the retail, e-commerce, grocery or package fulfillment supply chain, there’s this mission-critical need to automate it. Berkshire Grey is essential for that to happen with their best-in-class technology,” said John Delaney, chief executive of Revolution Acceleration.

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    Source: Reuters

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