SoftBank has agreed to buy the ASX-listed Millennium Services Group in a deal valuing it at $57.2 million as the Japanese investment group aims to put robots to work cleaning Australia’s shopping centres.
Millennium, which was established in 2003, has more than 4700 staff doing cleaning, security and property maintenance around Australia and New Zealand. Its shares opened up 75 per cent on the news.
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Nick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age. Connect with Nick on Twitter. Email Nick at nick.bonyhady@afr.com