MoFo Advises SoftBank on Warehouse-as-a-Service Joint Venture

Morrison Foerster advised SoftBank Group Corp. (“SoftBank”) in connection with the establishment of GreenBox Systems LLC (“GreenBox”), a new joint venture with Symbotic Inc. (“Symbotic”) (Nasdaq: SYM), a leader in AI-powered automation technology for the supply chain.

GreenBox will offer first-of-its-kind automated warehouse services to address the more than $500 billion annual warehouse-as-a-service market opportunity, automating supply chain networks globally by operating and making accessible Symbotic’s advanced AI and automation technology for the warehouse. The efficiency, SKU agility, scalability, and density of the Symbotic system allows GreenBox to effectively manage single- and multi-tenant facilities across the supply chain and thus fundamentally reshape the economics of automated supply chain services.

SoftBank invests in breakthrough technology to improve the quality of life for people around the world. SoftBank is comprised of SoftBank Group Corp., an investment holding company that includes stakes in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers, and the SoftBank Vision Funds and SoftBank Latin America Funds, which are investing more than $160 billion to help extraordinary entrepreneurs transform industries and shape new ones.

The MoFo corporate team advising SoftBank was led by Erik Knudsen and David Slotkin, together with associate Chere See, of counsel Evan Leitch, of counsel Christopher McKinnon, associate Daigo Takahashi, and associate Hardin Cox III. Technology transactions partner Aya Eguchi and associate Rohan George led on commercial elements.