Hyundai completes Boston Dynamics purchase from SoftBank2021-06-21 17:46 by Daniela
Tags: Hyundai, Boston Dynamics
Hyundai Motor Group, Boston Dynamics, Inc. and SoftBank Group Corp., today announced the completion of the Group's acquisition of a controlling interest in Boston Dynamics from SoftBank, following the receipt of regulatory approvals and other customary closing conditions.
The deal, which was announced last December and valued the maker of the "Spot" robot at $1.1 billion, gives Hyundai an 80% stake with SoftBank retaining the remaining 20%.
Boston Dynamics is popular for developing agile, mobile robots that have been successfully integrated into business operations of many of the world's leading industrial firms.
Although car makers use a lot of robots in manufacturing, they aren't typically the kinds that Boston Dynamics makes. Hyundai, for its part, says it is focused on Boston Dynamics' robots for their advanced mobility, manipulation, and vision capabilities.
Hyundai's plan for the future after acquiring Boston Dynamics is to develop a "robotics chain" that covers manufacturing, construction and automation. Although Hyundai has explored robotics itself, it seems that the car manufacturer is interested in all of Boston Dynamics' other areas as well.
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