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Monday, 21 June 2021 17:43

Hyundai Motor Group Completes Acquisition of Boston Dynamics from SoftBank

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Hyundai Motor Group, Boston Dynamics, Inc. and SoftBank Group Corp. on June 21 announced the completion of Hyundai'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, Hyundai holds an 80% stake in Boston Dynamics and SoftBank, through one of its affiliates, retains the remaining 20% stake.

 

Boston Dynamics is the established leader in developing agile, mobile robots that have been successfully integrated into business operations of many of the world's leading industrial firms. Advanced robotics offer opportunities for rapid growth with the potential to positively impact society by making work safer and more productive.

 

By acquiring Boston Dynamics and securing a leading presence in the field of robotics, Hyundai takes another major step toward its strategic transformation into a Smart Mobility Solution Provider. To propel this transformation, Hyundai has invested substantially in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots.

 

In the field of robotics, Hyundai aims to develop advanced technologies that enhance people's lives and promote safety, thereby realizing the progress for humanity.

 

The deal is also expected to allow Hyundai and Boston Dynamics to...


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