Hyundai Completes Its $1.1 Billion USD Acquisition of Boston Dynamics
Now owning an 80 percent stake in the robotics company.
Hyundai has now completed its $1.1 billion USD acquisition of Boston Dynamics.
The deal was announced back in December last year, with a stated price of roughly $921 million USD at the time. Hyundai’s new acquisition now gives it an 80 percent stake in the robotics company, with the remaining 20 percent retained by SoftBank, Boston Dynamics’ previous owner since 2017.
“By acquiring Boston Dynamics and securing a leading presence in the field of robotics, the Group takes another major step toward its strategic transformation into a Smart Mobility Solution Provider,” reads a statement from Hyundai. “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.” The new deal will also see the two companies leverage their manufacturing, logistics, construction and automation capabilities, creating what it calls a “robotics value chain.”
In other business-related news, PUBG developer Krafton is targeting a $5 billion USD South Korean IPO.
