SoftBank’s robotics portfolio company Berkshire Grey has lined up a reverse merger with Revolution Acceleration Acquisition Corp and will be valued at $2.7bn.
Berkshire Grey (BG), a US-based robotic fulfilment systems developer backed by telecommunications group SoftBank, agreed to a reverse merger with Revolution Acceleration Acquisition Corp yesterday.
Hedosophia, funds and accounts managed by BlackRock and private investor Chamath Palihapitiya have anchored a $165m private investment in public equity. BG expects to have approximately $507m in cash once the merger completes and will be valued at $2.7bn.
The transaction has been approved by BG and Revolution Acceleration’s boards of directors and is expected…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
