Hyundai Motor Group completes acquisition of Boston Dynamics from SoftBank

Hyundai Motor Group completes acquisition of Boston Dynamics from SoftBank

This week, Hyundai Motor Group, Boston Dynamics and SoftBank Group announced the completion of a deal that resulted in Hyundai Motor Group acquiring a majority stake in Boston Dynamics from SoftBank.

The deal was announced last December. Over the past period, regulatory approvals have been obtained and all other necessary conditions have been met. In the announcement of the completion of the transaction, the cost of Boston Dynamics appears – $ 1.1 billion. It is also said that Hyundai Motor Group now owns 80% of Boston Dynamics. SoftBank through one of its affiliates retains the remaining 20%. Additional financial details were not disclosed.

The deal is expected to enable Hyundai Motor Group and Boston Dynamics to leverage each other’s strengths in manufacturing, logistics, construction and automation. Synergy will accelerate the development of advanced robots and build a complete chain from the production of robot components to turnkey solutions. In addition, the new owner intends to support the ongoing expansion of the Boston Dynamics product line.

Hyundai Motor Group completes acquisition of Boston Dynamics from SoftBank

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