We are advising Cubic Telecom on the strategic investment

Davis Polk is advising Cubic Telecom Limited in connection with the investment by SoftBank Corp. of approximately €473 million in the company for a 51% equity stake at a valuation of over €900 million. The investment is subject to regulatory approvals in various jurisdictions, and other customary closing conditions, and is expected to close in the first half of 2024.

Cubic Telecom is a global provider of connectivity solutions to automotive, transportation and agriculture original equipment manufacturers. Cubic Telecom has grown rapidly since launching its industry-first connectivity platform in 2016, and through agreements with 90 mobile network operators, the company currently connects more than 17 million vehicles in over 190 countries, adding 450,000 new vehicles a month, which is expected to increase exponentially over the next five years.

SoftBank is a telecommunications and IT operator headquartered in Tokyo. SoftBank has 40 million mobile subscribers in Japan, and through its group companies, 60 million smartphone payment (PayPay) users, 85 million online media (Yahoo! JAPAN) users and 96 million communication app (LINE) users, as of November 8, 2023.

The Davis Polk corporate team includes partner Will Pearce, counsel William Tong and associate Gilbert Lim. Partner Dominic Foulkes and associate Patrick O’Donovan are providing tax advice. Partner Paul D Marquardt, counsel Matthew Yeowart and associates Dylan Jones and Charles Marshall Wilson are providing antitrust and regulatory advice. Members of the Davis Polk team are based in the London and Washington DC offices.

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