Hyundai Motor Group, Boston Dynamics and SoftBank 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 valued the mobile robot firm at $1.1 billion. Additional financial details were not disclosed.
Post-closing, the Group holds an 80 percent stake in Boston Dynamics and SoftBank, through one of its affiliates, retains the remaining 20 percent stake. Boston Dynamics develops agile, mobile robots that have been integrated into business operations of many industrial firms.
By acquiring Boston Dynamics Hyundai takes another step toward its strategic transformation into a Smart Mobility Solution Provider. To propel this transformation, the Group has invested substantially in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots.
Boston Dynamics launched sales of its first commercial robot, Spot in June of 2020 and now has hundreds of robots operating in a variety of industries, including power utilities, construction, manufacturing, oil and gas, and mining. The company also recently unveiled Stretch, its first commercial robot specifically designed for warehouse facilities and distribution centers.