announced Hyundai Corporation today announced that it has completed its acquisition of Boston Dynamics. The deal, which values the innovative robotics company at $1.1 billion, was announced in late 2020.
The companies did not disclose any future financial details. The South Korean auto giant now owns a controlling stake in Boston Dynamics, which was previously owned by SoftBank.
The Japanese investment firm was effectively a transitional owner, buying Boston Dynamics from Google, which had owned the company for just over three years.
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While her relationship with SoftBank did not last much longer than her time under Google. Boston Dynamics has seen the marketing of its first two products since its launch nearly 30 years ago.
The company brought its four-legged robot Spot to market. And this year it announced Stretch, an updated version of its Handle warehouse bot.
Hyundai’s Ernestine Fu recently discussed the planned acquisition of an 80 percent controlling stake in the company.
Fu noted that Hyundai’s New Horizons studios, which have reviewed several of its walking car concepts, appear poised to build on decades of Boston Dynamics research.
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“With New Horizons studios, what we’re looking at is to reimagine what you can do when you combine robotics with traditional wheeled locomotion, such as walking robots and walking vehicles,” Fu said.
“It’s clear that technology developed by Boston Dynamics plays a key role in enabling these types of concepts to emerge,” he added.
Boston Dynamics has long insisted on maintaining its own research wing, which has offered less commercial technology, such as a robot called Atlas.
Hyundai owns Boston Dynamics:
“We and Hyundai share a view of the transformative power of mobility,” said Rob Blatter, CEO of Boston Dynamics. We look forward to working together to accelerate our plans to empower the world with advanced automation. and continue to solve the world’s toughest robotics challenges for our customers.
Boston Dynamics is a leading developer of intelligent, mobile robots that have been integrated into the business operations of many of the world’s leading industrial companies.
Advanced robotics provide opportunities for rapid growth with the potential to positively impact society by making work safer and more productive.
Hyundai is taking another major step toward its strategic transformation into an intelligent mobility solutions provider with the acquisition of Boston Dynamics and securing a leading presence in robotics.
To drive this transformation, Hyundai has invested heavily in developing future technologies. Including autonomous driving, artificial intelligence, urban air mobility, smart factories and robotics.
In the field of robotics, Hyundai aims to develop advanced technologies that enhance people’s lives and enhance safety, thus achieving progress for humanity.
The deal allows the two companies to leverage their respective strengths in manufacturing, logistics, construction and automation.