SoftBank Corp buys €473m majority stake in Irish car software firm Cubic Telecom

The deal gives Cubic a valuation of over €900m

Consulting firm McKinsey & Co has estimated that 95% of new vehicles sold globally will be connected by 2030.

SoftBank will invest roughly €473m to take a 51% equity stake in Cubic Telecom which will give the Dublin-based connected-vehicle technology provider greater access to Asian automakers.

The Japanese telecommunications arm of tech investment giant SoftBank Group and Cubic "will form a strategic global partnership to pioneer the future of software-defined connected vehicles", the two companies said on Tuesday.