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welcome to tech crunch daily news a roundup of the top tech news of the day.

Soft Bank is putting even more money into We Work.

SAP's outgoing CEO gets a new job,

and Automated Logistics startup fabric raises $110 million.

Here's your daily crunch for October 23rd, 2019.

First up, confirming earlier reports,

the Wii Company and Soft Bank Group have agreed to a new capital infusion

which will see Soft Bank committing $5 billion in new financing and issuing a tender offer for another

$3 billion in buybacks for shareholders.

After the closing and the tender offer, Soft Bank will own approximately 80% of the

Wii Company, according to a statement.

However, it will hold a majority of voting rights thanks to We Works convoluted ownership structure.

As part of the agreement, the company confirmed that Marcelo Cloure, the chief operating officer of Softbank Group, will assume the position of executive

...