12.14.20 - Hyundai Motors has announced that it will acquire a controlling interest in Boston Dynamics in a deal that values that robotics innovator at over $1.1 billion. The announcement offers confirmation of a deal that had been rumored about in tech media for over a week.
Under the agreement, Hyundai will hold an approximately an 80 percent stake in Boston Dynamics, and that lead investor SoftBank, through one of its affiliates, will retain a 20 percent stake upon the closing of the transaction.
Founded in 1992, Boston Dynamics is best known for its robots modeled on real-life creatures, specifically its robotic dog, Spot. Hyundai said the company’s robotics technologies will lend synergies to its work in autonomous vehicles, unmanned aerial vehicles and smart factories.
Source: CB News
