Hyundai Motor acquire 80% stake in Boston Dynamics from SoftBank Group
SEOUL, South Korea, Dec. 14, 2020-- Hyundai Motor Group will acquire 80% stake in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion. Financial terms were not disclosed.
Hyundai Motor Group will hold an approximately 80% stake in Boston Dynamics and SoftBank, through one of its affiliates, will retain an approximately 20% stake in Boston Dynamics after the closing of the transaction.
The acquisition will mark another major step for Hyundai Motor Group toward its strategic transformation into a Smart Mobility Solution Provider including in fields such as autonomous driving technology, connectivity, eco-friendly vehicles, smart factories, advanced materials, artificial intelligence (AI), and robots.
Boston Dynamics produces highly capable mobile robots with...