Hyundai takes $1.1 billion controlling stake in Boston Dynamics

Hyundai Motor Group has acquired controlling interest in Boston Dynamics, valued at $1.1 billion, from SoftBank Group Corp.

Under the agreement, Hyundai Motor Group will hold an approximately 80 per cent stake in Boston Dynamics and SoftBank, through one of its affiliates, will retain an approximately 20 per cent stake in Boston Dynamics after the closing of the transaction.

Boston Dynamics is the established leader in developing agile, mobile robots that have been successfully integrated into various business operations.

The acquisition marks a major step for Hyundai Motor Group toward its strategic transformation into a Smart Mobility Solution Provider.

The deal is also expected to allow Hyundai Motor Group and Boston Dynamics to leverage each other’s respective strengths in manufacturing, logistics, construction and automation.

Boston Dynamics produces highly capable mobile robots with advanced mobility, dexterity and intelligence, enabling automation in difficult, dangerous, or unstructured environments.