Hyundai will secure a controlling stake in the engineering and robotics group.
Hyundai has purchased Boston Dynamics from SoftBank Group in a deal valued at $1.1 billion. Announced on Friday on the back of rumors of the purchase that first began to circle in November, Hyundai Motor Group and Chairman Euisun Chun said that they had agreed to acquire an 80% controlling stake in Boston Dynamics, while 20% will be held by SoftBank through one of its affiliates. Financial terms beyond the valuation of Boston Dynamics at $1.1 billion were not disclosed. Hyundai says the deal will „mark another major step toward its strategic transformation into a smart mobility solution provider,“ and will complement existing investments in sustainability, eco-vehicles, smart factories — otherwise known as Industry 4.0 — artificial intelligence (AI), and robotics. Founded in 1992, Boston Dynamics focuses on advanced robotic designs suitable for commercial applications.
