Hyundai Motor to buy 80% stake in Boston Dynamics
Bloomberg
Hyundai Motor Group agreed to buy a controlling stake in Boston Dynamics Inc in a deal that values the mobile robot firm at US$1.1 billion.
Hyundai Motor Group, along with some associated companies and chairman Euisun Chung, is to acquire an 80 percent interest in the US robotics company from Softbank Group Corp, leaving the Japanese firm with a 20 percent share, the companies said in a statement on Friday.
South Korean conglomerate Hyundai Motor Group has been beefing up its research in robotics as it expands further into electric and autonomous vehicles.
Hyundai Motor to Acquire 80-pct Stake of Boston Dynamics from SoftBank
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This photo privided by Boston Dynamics shows a maneuverable dog-like robot made by the company.
SEOUL, Dec. 11 (Korea Bizwire) – South Korea’s Hyundai Motor Group said Friday its affiliates and its chairman will buy an 80-percent stake, worth up to 900 billion won (US$828 million), in U.S. robotics firm Boston Dynamics Inc. in the latest move to propel its future mobility business.
The board of directors at Hyundai Motor and its two affiliates, Hyundai Mobis and Hyundai Glovis, approved the plan to acquire the controlling stake in Boston Dynamics from Japanese investment firm SoftBank Group, Hyundai Motor said in a regulatory briefing.
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