SoftBank Corp. Invests in Cubic Telecom to Pioneer the Future of Software- Defined Connected Vehicles and IoT means Encyclopedically

SoftBankCorp.( TOKYO9434, “ SoftBank ”), a telecommunications and IT driver headquartered in Tokyo, and Cubic TelecomLtd.( “ Cubic Telecom ”), a leading global provider of software- defined connected vehicle * 1 results headquartered in Dublin, moment blazoned they inked a definitive agreement whereby SoftBank will invest roughly 473 million EUR * 2 in Cubic Telecom for a51.0 equity stake * 3 in the company, at a valuation of over 900 million EUR. With this investment, SoftBank and Cubic Telecom will form a strategic global cooperation to innovate the future of software- defined connected vehicles and other high- value Internet- of- effects( IoT) means * 4 by employing the power of global connectivity platforms. Cubic Telecom is a leading global provider of connectivity results to automotive, transportation and husbandry original outfit manufacturers( OEMs), and according to McKinsey & Company * 5, 95 of new vehicles vended encyclopedically will be connected by 2030, and connected auto use cases alone could deliver 250 billion USD to 400 billion USD in periodic incremental value for the ecosystem, with Cubic Telecom poised to capture a leading share of this fleetly growingmarket.After the investment closes, Barry Napier will continue to lead Cubic Telecom as CEO and Board Member, and Daichi Nozaki, SoftBank’s elderly Vice President responsible for its global business, and two other SoftBank nominees will join Cubic Telecom’s Board. Three Board seats will continue to be held by Cubic Telecom’s being shareholders, including CARIAD( Volkswagen Group) and Qualcomm, and with the close of the investment, Cubic Telecom will come a consolidated attachment of SoftBank.

Cubic Telecom’s Platform for Application & Connectivity Enablement( PACE) is a testament to the shift towards software- defined results and down from the heritage of tackle. The platform allows OEMs to cover, manage and modernize numerous aspects of a vehicle or device in real- time, encyclopedically, via mobile connectivity- meaning vehicles can be acclimatized to the conditions of a country or region while complying with different nonsupervisory authorizations. Vehicles and bias can admit new features and functionalityover-the-air( OTA) throughout their continuance, which improves performance, safety, comfort and value to insure the stylish stoner experience. Cubic Telecom has grown fleetly since launching its assiduity-first connectivity platform in 2016, and through agreements with further than 90 mobile network drivers( MNOs), the company presently connects further than 17 million vehicles in over 190 countries and regions, adding 450,000 new vehicles a month, which is anticipated to increase exponentially over the coming 5 times.

Junichi Miyakawa, President & CEO of SoftBankCorp., reflected, “ In line with our ‘ Beyond Japan ’ strategic growth action, we’re extremely pleased to be teaming up with Cubic Telecom to make a full- fledged entry into the fast- growing request for high- value IoT asset connectivity. With its global leadership position, we’re convinced Cubic Telecom is the stylish mate for this occasion, and we look forward to erecting connectivity platforms for coming- generation social structure. ”

“ moment’s advertisement marks a significant corner for our platoon and stakeholders, and we ’re agitated to mate with SoftBank to innovate the future of software- defined connectivity, ” said Barry Napier, CEO at Cubic Telecom. “ The focus on software rather than tackle means manufacturers can increase the value of a vehicle or device by adding new functionality,over-the-air, which will ameliorate safety, comfort and performance. This, alongside the occasion AI presents, will open up new collaborations and business models. The openings ahead of us are endless. ”

Cubic Telecom enables the world’s major automotive, transportation and husbandry OEMs to accelerate digital metamorphosis and better influence software- defined technologies. The company is also developing slice- edge services that work its platform’s important analytics, and as cellular vehicle- to- everything( C- V2X) connectivity continues to be transformative, the cooperation between SoftBank and Cubic Telecom will play a leading global part in developing new services and accelerating invention.

While SoftBank has been furnishing global IoT connectivity services, substantially in Asia- Pacific requests, in this new strategic cooperation with assiduity leader Cubic Telecom, SoftBank will be suitable to make a full- fledged entry into the fleetly growing IoT requests for connected buses and software- defined vehicles, giving it access to new profit generating openings. By uniting with SoftBank, which has an expansive client base in Japan and other Asia- Pacific countries and regions, Cubic Telecom will gain access to new deals channels to further make on its request leadership position. SoftBank and Cubic Telecom will also explore ways to induce solidarity and develop new services, similar as exercising satellite and stratospheric- groundedNon-Terrestrial Network( NTN)- grounded results that give flawless connectivity to vehicles and IoT bias in areas that can not be reached by traditional ground- grounded networks.

The investment is subject to nonsupervisory blessings in colorful authorities, and other customary ending conditions, and is anticipated to close in the first half of 2024.

In connection with the sale, Jefferies( as supereminent fiscal counsel) and EY Corporate Finance handed advice to Cubic Telecom. Davis Polk LLP and Arthur Cox LLP acted as legal counsels to Cubic Telecom. PJT mates acted as supereminent fiscal counsel to SoftBank. Herbert Smith Freehills and William Fry acted as legal counsels to SoftBank. PwC acted as Financial, Tax, HR, Cyber, sequestration and PPA counsel to SoftBank. KPMG Ireland and Trasna Corporate Finance also handed advice to Cubic Telecom in connection with the sale.

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