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Hyundai Motor acquire 80% stake in Boston Dynamics from SoftBank Group

14Dec By PriyankaNo Comments

ACQUISITION

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...

5Nov By NitishNo Comments

ACQUISITION

Automation Anywhere acquihire Cathyos Labs

The SoftBank-backed robotic process automation (RPA) player, Automation Anywhere acquihire of product engineering start-up Cathyos Labs to support the company's expansion and product innovation. Cathyos Labs specialises in product development, automation, RPA and predictive analytics, Automation Anywhere said in a statement. Through the acqui-hire, Automation Anywhere will strengthen its engineering team to increase product development, support and delivery for customers in India and across the region, it said. Cathyos Labs is the first talent led acquisition by Automation Anywhere.Cathyos Labs engineers, including the co-founders, will join Automation Anywhere's product engineering team to provide development support for the web-based RPA platform, Enterprise A2019, it was state...

12Sep By AdityaNo Comments

FUNDING

Marsplay Raises Funding from Venture Highway, Others

Marsplay, a community-led commerce platform has raised funding led by Venture Highway. The pre-series A round, whose size was not disclosed, also saw participation from Alvin Tse from Xiaomi, Jonathan Lau, Partner, Cadorna Ventures, a statement said. Existing angels including the personal offices of Shailesh Rao, a partner with TPG Growth, and Nikhil Mohta, Director, ICICI Ventures also followed on in this round. Marsplay's seed round was led by Amit Agrawal (former YouTube India Head), Vivekananda Hallekere (Bounce CEO) and Shamir Karkal (Simple.com founder) among others, it added. Marsplay plans to use the funds to build its product engineering team and build a strong creator community, it said. https://pixr8.com/funding/edtech-startup-whitehat-jr-raises-10-million-fund...

Al Ahli Bank of Kuwait Partners With EdgeVerve for robotic automation

29Jul By AnkitaNo Comments

MIDDLE EAST

Al Ahli Bank of Kuwait Partners With EdgeVerve for robotic automation

Al Ahli Bank of Kuwait has partnered with EdgeVerve Systems, a subsidiary of Infosys to steer its automation journey using AssistEdge Robotic Process Automation (RPA). The award-winning scalable automation platform, AssistEdge is an end-to-end service for building and implementing RPA. It provides integrated software robots to automate any high-touch, repetitive process. Used to modernize customer service, improve business processes and enhance operational productivity, it spans the entire gamut of automation. Somnath Menon, Group Chief Operating Officer Al Ahli Bank of Kuwait, said, "Robotic Process Automation is part of ABK's digitization strategy to transition to the next level of innovation and technology in banking. ABK has collaborated with EdgeVerve and successfully implemen...

Rich and powerful warn robots are coming for your jobs

4May By reutersNo Comments

News

Rich and powerful warn robots are coming for your jobs

Some of the richest, smartest and most powerful humans have an important message for the rest of us as they convened this week to discuss pressing global issues: the robots are coming. At the Milken Institute's Global Conference in Beverly Hills, California, at least four panels so far have focussed on technology taking over markets to mining - and most importantly, jobs. "Most of the benefits we see from automation is about higher quality and fewer errors, but in many cases it does reduce labor," Michael Chui, a partner at the McKinsey Global Institute, said on Tuesday during a panel on "Is Any Job Truly Safe?" The four-day annual conference, which began on Sunday, has 3,500 invite-only participants exploring "The Future of Human Kind." Technology has not only done away with l...