In Short:
SoftBank has acquired a majority stake in Dublin-based Cubic Telecom, making it a subsidiary. Cubic Telecom provides software-defined connected vehicle solutions. SoftBank aims to enter the IoT market for connected cars with this partnership. They plan to expand sales of Cubic Telecom’s platform in the Asia-Pacific region and collaborate with Honda on implementing the platform in vehicles worldwide. They will also work on deploying new services using Cubic Telecom’s platform in the future.
SoftBank has officially announced the completion of its acquisition of a majority stake in Dublin-based Cubic Telecom, making it a subsidiary of the company. Cubic Telecom specializes in providing software-defined connected vehicle (SDCV) solutions, with its platform integrated into vehicles during manufacturing to enable OEMs to take advantage of software-defined technologies.
Acquisition Announcement
SoftBank confirmed today that Cubic Telecom became a subsidiary on March 6, 2024, following the acquisition of a 51.0 percent equity stake. The term SDCV refers to vehicles whose functionalities are primarily driven by software connected to the Internet. In December, SoftBank had announced a significant investment of approximately 473 million EUR to acquire a majority stake in Cubic Telecom, valuing the company at over 900 million EUR.
Strategic Partnership Details
SoftBank, known for its global IoT connectivity services primarily in the Asia-Pacific region, intends to enter the IoT markets for connected cars and software-defined vehicles through its partnership with Cubic Telecom. The collaboration will involve expanding sales of Cubic Telecom’s global connectivity platform in the Asia-Pacific region, along with developing new services.
Collaborative Initiatives
As part of this partnership, SoftBank has struck a deal with Honda to potentially introduce Cubic Telecom’s connectivity platform, distributed by SoftBank, in Honda vehicles across approximately 70 countries and regions, excluding North America and China. SoftBank and Honda will explore further opportunities for implementing Cubic Telecom’s technology in the future.
SoftBank plans to work closely with Cubic Telecom on expanding the deployment of its global connectivity platform for SDCVs and related markets, aiming to introduce a variety of services in the future. The strategic collaboration between SoftBank and Cubic Telecom signifies a significant step towards enhancing connectivity and technology solutions in the automotive industry.
