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Japan's SoftBank to buy majority of Cubin Telecom, Irish provider of connected-car solutions

( December 5, 2023, 08:30 GMT | Official Statement) -- MLex Summary: Japan’s telecom and technology giant SoftBank said today it had agreed to buy a 51 percent stake in Cubin Telecom, an Ireland-based software company providing connected-vehicle solutions. The 473 million euro transaction is aimed at providing connectivity solutions for vehicles and the Internet of Things, amid the growth in these markets. Cubin is already providing connectivity services to more than 17 million vehicles in 190 countries and regions, and SoftBank wants to build global connectivity platforms for next-generation social infrastructure through this new partnership. The parties aim to close the deal in the first half of 2024, subject to regulatory approvals in various jurisdictions, and other customary closing conditions, according to a joint statement. The joint statement follows:...

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