# 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.

- Type: Acquisition
- Announced: 2022-02-19
- Where: Noida, India
- Value: $132.0M
- Status: completed
- Capacity: 50,000 robots per year
- Products: intra-logistics automation solutions, robots for factories and warehouses
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Addverb Technologies](https://endata.com/companies/53647.md) (target)
- [Reliance Retail Ventures](https://endata.com/companies/61144.md) (acquirer)

## Sources

- [vorafin.com](https://vorafin.com/insights/ma-reliance-retail-acquires-54-in-robotics-company-addverb-technologies/), 2022-02-19: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.