SoftBank Group and Symbotic Establish New Warehouse-as-a-Service Joint Venture To Transform Supply Chain Services Through Automation and AI; Symbotic Expects Over $500M In Incremental Revenue
Portfolio Pulse from Benzinga Newsdesk
SoftBank Group Corp. and Symbotic Inc. have announced the establishment of a joint venture, GreenBox Systems LLC, to address the $5001 billion annual warehouse-as-a-service market. Symbotic also announced a $7.5 billion new customer contract with GreenBox, who will be the exclusive provider of Symbotic systems in the warehouse-as-a-service market. Symbotic expects over $500 million in annual recurring revenue from GreenBox once all systems are operational.
July 24, 2023 | 11:07 am
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POSITIVE IMPACT
SoftBank's joint venture with Symbotic could potentially open up new revenue streams and strengthen its position in the supply chain services market.
The formation of the joint venture with Symbotic could potentially open up new revenue streams for SoftBank and strengthen its position in the supply chain services market. This could have a positive impact on SoftBank's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Symbotic's new customer contract with GreenBox and the expected $500 million in annual recurring revenue could significantly boost its financial performance.
Symbotic's new customer contract with GreenBox and the expected $500 million in annual recurring revenue could significantly boost its financial performance. This could have a positive impact on Symbotic's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100