SoftBank completed the acquisition of a 51% stake in Cubic Telecom for $513m.

SoftBank, a Japanese multinational conglomerate holding company, completed the acquisition of a 51% stake in Cubic Telecom, a software company, for $513m. “In line with our ‘Beyond Japan’ strategic growth initiative, we are extremely pleased to be teaming up with Cubic Telecom to make a full-fledged entry into the fast-growing market for high-value IoT asset connectivity. With its global leadership position, we are convinced Cubic Telecom is the best partner for this opportunity, and we look forward to building connectivity platforms for next-generation social infrastructure,” Junichi Miyakawa, SoftBank President & CEO.