SoftBank in early talks to buy Allied Universal, Bloomberg reports
SoftBank is in early talks to buy Allied Universal, a major global security firm, in a deal that could be worth about $18 billion (not counting debt), according to Bloomberg.
Allied Universal is backed by big investors like Warburg Pincus and Canada's La Caisse.
If it goes through, this would be another bold move for SoftBank as it looks to expand its tech empire.
Allied Universal uses AI for security
This possible acquisition fits right into SoftBank's push toward artificial intelligence and robotics, fields it's already poured billions into, including a $64 billion investment in OpenAI.
Allied Universal uses AI for things like real-time data and GPS tracking to keep clients safe.
The company has also grown fast worldwide, especially after buying U.K.-based G4S in 2021.
For investors behind Allied, this could mean a pretty big payday if the deal closes.