Reliance Retail acquires 54% stake in Addverb Technologies for $132 million

Reliance Retail Ventures Ltd. acquired a 54% stake in Addverb Technologies, a robotics company providing intra-logistics automation solutions, for $132 million. Addverb's manufacturing facility in Noida has capacity to make 50,000 robots per year.

“With this investment Addverb will be able to accelerate its expansion in Europe and US and will be able to set up the biggest robotic manufacturing facility at a single location.”vorafin.com

• 1 source
• vorafin.comM&A: Reliance Retail acquires 54% in Robotics Company Addverb Technologies - Vora Corporate FinanceVora Corporate FinanceFeb 19, 2022

Summarized from public sources; check the original articles before acting on it.