june 30, 2021
Robotics Firm AutoStore Plans IPO at $10 Billion Value
AutoStore is weighing an initial public offering that could value the Norwegian warehouse robotics company at more than $ 10 billion, according to people familiar with the matter.

Founded in 1996, Nedre Vats-based AutoStore provides robots used in the storing and retrieval of goods in warehouses. It specializes in so-called cube storage automation and its technology is deployed at more than 600 sites in 35 countries.

Private equity firm Thomas H. Lee Partners acquired the company in 2019. In April, it sold a 40% stake in AutoStore to SoftBank Group Corp. in a deal that valued the company at $ 7.7 billion, including debt.

E-commerce and related companies have seen a flurry of successful listings in the U.S. this year. Another SoftBank-backed firm, South Korea’s Coupang Inc., rose 41% in its trading debut in March. The shares have since given up some of their gains but are still trading about 8% above the offer price.

OLIMP’s CEO Vlad Gasnikov says that warehousing robotics technologies can become the main trend of the warehousing industry by 2025 in the U.S.

© based on ttnews.com