Wilmington Robotics Firm in Talks For $4.5 Billion Merger: Report

WILMINGTON, MA — The Wilmington-based robotics company Symbotic is in talks to merge with a blank check company in a $4.5 billion deal, according to a report by Sky News.

The company would merge with SVF Investment Corp 3, a special purpose acquisition company (SPAC) set up by the Japanese holding company SoftBank.

An investor told Sky News that an agreement could be reached within weeks.

Symbotic is backed by Walmart, which would also participate in the deal by providing investment, according to the report. Symbotic robots are in dozens of Walmart distribution centers across the country.

Patch has reached out to Symbotic for comment and will update this story when we hear back.

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In a blank check merger, the SPAC raises money through an initial public offering, with the intent of acquiring an existing private company. It then merges with or acquires a company, turning the private company into a publicly-traded one without its own IPO.

Christopher Huffaker can be reached at 412-265-8353 or [email protected].