Hyundai completes acquisition of Boston Dynamics

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The Hyundai Motor Group has completed the acquisition of the US robotics company Boston Dynamics by acquiring a majority stake. As Hyundai Motor Group, the previous majority owner SoftBank and Boston Dynamics jointly announced on Monday, Hyundai Motor Group holds 80 percent of the company. The remaining 20 percent will remain with SoftBank through various of its subsidiaries.

According to the companies involved Boston Dynamics was valued at $ 1.1 billion. Hyundai Motor Group, SoftBank and Boston Dynamics did not provide any further details on the deal, which has already been approved by the authorities.

In December 2020, Hyundai Motor Group announced that it would take over 80 percent of the shares in the robotics company from SoftBank in order to give the well-known robots Spot, Atlas and Cheetah a new home. First and foremost, however, it is about driving the strategic transformation of the group into a Smart Mobility Solution Provider. To this end, Hyundai has already invested in other future technologies, including autonomous driving, artificial intelligence (AI), urban air mobility (UAM), smart factories and, with the takeover of Boston Dynamics, now also in robotics.

Hyundai Motor Group is committed to developing advanced techniques to improve people’s lives and advance humanity. Boston Dynamics is specifically intended to create a robotics value chain: from the robot component to intelligent logistics solutions, according to the Hyundai Motor Group. The group wants to help expand the existing Boston Dynamics product line and advance global sales and service.

Atlas, Spot and Handle put a neat sole on the parquet.

So far, the commercial exploitation of Boston Dynamics developments has been rather sparse. It wasn’t until June 2020 that Boston Dynamics started selling its robot dog Spot. Spot has also been available in Europe since September. There are also the storage robots Handle and Stretch, which can be used in logistics companies around the world.

Before that, Boston Dynamics seemed to be mostly an investment with a bet on the future. First, Google bought the company in 2013 and then sold it to SoftBank in 2017. Now, again four years later, the US company has a South Korean owner.


(olb)

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