SoftBank has announced that Cubic Telecom became a subsidiary on March 6, 2024, with its acquisition of a 51.0% equity stake, after dilution.
In conjunction with Cubic Telecom becoming a subsidiary, SoftBank launched new collaborative initiatives, including sales cooperation to expand the sales of Cubic Telecom’s global connectivity platform mainly in the Asia-Pacific (APAC) region and developing new services.
As part of these initiatives, SoftBank recently reached an agreement with Honda Motor whereby Honda will consider introducing Cubic Telecom’s connectivity platform sold by SoftBank to Honda vehicles in approximately 70 countries and regions worldwide, excluding North America and China. SoftBank and Honda will further explore implementing Cubic Telecom’s connectivity platform going forward.
Under its “Beyond Japan” growth initiative, SoftBank will collaborate closely with Cubic Telecom to expand the deployment of its global connectivity platform for SDCVs and adjacent markets. SoftBank will also aim to use Cubic Telecom’s platform to deploy various services in the future.
Comment on this article below or via X: @VanillaPlus
