Ireland’s biggest ever tech acquisition: Cubic Telecom sells stake to Softbank in €473m deal

Irish software company valued at over €900m after the Japanese conglomerate takes a majority stake in the firm

Cubic Telecom chief executive Barry Napier and chief operating officer Shane Sorohan

Softbank, the Japanese conglomerate, has taken a majority stake in Irish tech company Cubic Telecom in a €473 million deal.

The partnership makes Cubic, whose software is installed in millions of vehicles globally, gives a market valuation of over €900 million ($978 million+). This is equivalent to over 16x the company’s 2022 revenue of €56.3 million.

Softbank is taking a 51 per cent stake in Cubic in a move which it said would help the ...