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SoftBank announced today that Dublin-based Cubic Telecom has become a subsidiary through its acquisition of a majority stake. Cubic Telecom is a provider of software-defined connected vehicle (SDCV) solutions, and its platform is embedded in vehicles at the point of manufacture, enabling OEMs to leverage software-defined technologies.
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Acquisition Announcement
In an official announcement today, SoftBank said Cubic Telecom became a subsidiary on March 6, 2024, following its acquisition of a 51.0 percent equity stake (after dilution).
SDCV is a term that describes a vehicle whose features and functions are primarily enabled through software connected to the Internet. SoftBank announced in December that it would invest approximately 473 million EUR in Cubic Telecom for a 51.0 percent equity stake in the company, valuing it at over 900 million EUR.
Strategic Partnership Details
SoftBank has been providing global IoT connectivity services, mainly in Asia-Pacific markets. In this new partnership with Cubic Telecom, SoftBank aims to make a full-fledged entry into the IoT markets for connected cars and software-defined vehicles, as announced last December.
In conjunction with Cubic Telecom becoming a subsidiary, SoftBank has launched new collaborative initiatives, including sales cooperation to expand the sales of Cubic Telecom’s global connectivity platform mainly in the Asia-Pacific (APAC) region and developing new services.
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