SoftBank Group has agreed a deal to take Berkshire Grey private by acquiring all of the company's outstanding stock it doesn't already own for $1.40 per share, giving the deal a value of around £375 million, according to a report by MarketWatch.

News of the acquisition saw the company's shares trading 16.72% higher at $1.33 in after hours trading on Friday having finished the day's regular session down 4.2% at $1.14.

According to its website, Berkshire Grey offers solutions that combine AI and robotics to automate fulfilment, supply chain and logistics operations for retail, eCommerce, package handling, and logistics companies.