SoftBank Group Corp. is weighing an acquisition of Allied Universal as a possible place to test security robots, Bloomberg reported, while the Japanese group’s credit risk reached its highest level since 2022.
The discussions surfaced Oct. 16, as detailed in earlier coverage of the Allied Universal talks. Bloomberg reported a possible equity value of up to $18 billion, citing people familiar with the matter. The sides have not settled on a price, and a deal is uncertain.
Allied Universal says it employs about 770,000 people in more than 100 countries. The company provides security services to businesses, venues, major events and data centers, a range of settings Bloomberg reported could support testing security robots.
Bloomberg reported humanoid security robots may take longer to deploy. People familiar with the matter told Bloomberg that, if SoftBank acquires the company, it would eventually seek to use robots for some duties now handled by Allied Universal employees. No workforce changes have been announced as part of a potential transaction.
Bloomberg data put SoftBank’s five-year credit default swap spread at 432 basis points on Oct. 20, its highest reading since early November 2022. Bloomberg linked the increase to scrutiny of SoftBank’s AI investments and the prospect of another large acquisition.
Bloomberg Intelligence credit analyst Sharon Chen said a purchase could require SoftBank to raise more funds and move its loan-to-value ratio closer to its target of staying below 25% in normal market conditions. SoftBank’s financial policy sets a 35% upper threshold for extraordinary circumstances.
SoftBank said Oct. 1 that it had completed a separate $30 billion investment in OpenAI, bringing its cumulative investment there to $64.6 billion. The company said senior notes funded the final $10 billion installment.
SoftBank’s robotics plans also include an agreement announced in October 2025 to acquire the robotics business of ABB Ltd. for $5.375 billion. When it announced the agreement, SoftBank said closing required regulatory approvals and other conditions. The Allied Universal discussions have yet to produce an agreement.
