Shares of Berkshire Grey, Inc. were trading higher in Friday’s after-hours market following news the company it agreed to a merger deal with SoftBank Group Corp. and its affiliate.
The all-cash deal will see SoftBank acquire all outstanding capital stock it doesn’t already own of Berkshire for $1.40 per share and take it private. The deal has a value of about $375 million, Berkshire said.
At 5:39 p.m. EDT, shares of Berkshire Grey were trading 16.72% higher at $1.33 each. The stock finished the day’s regular session with a 4.2% loss, closing at $1.14 per share.
Berkshire Grey said it offers technology that combines AI and robotics to automate fulfillment, supply chain and logistics operations.