Hyundai acquires Boston Dynamics for $1.1 billion

Date:15 December 2020 Author: Kyro Mitchell

Boston Dynamics, best known for creating some of the most advanced robotics like Spot the Dog and Atlas, the ‘parkour robot‘, is now officially a part of Hyundai.

The Korean automaker announced earlier this week that it struck a deal with SoftBank, the company that originally owned Boston Dynamics, to purchase an 80% stake in the tech company for a whopping $1.1 billion. SoftBank will however still retain a 20% stake in Boston Dynamics after the closing of the transaction, which is scheduled to take place in June 2021.

According to the announcement made by Hyundai, the reason behind the acquisition was because Boston Dynamics, “possesses multiple key technologies for high-performance robots equipped with perception, navigation, and intelligence.”

Hyundai also explained that Boston Dynamics is located in Boston and Silicon Valley, both major robot cluster regions, which is advantageous to sourcing key robotics talents and collaborating with competent partners.

Once the acquisition is completed, Hyundai will have unprecedented access to a wide variety of advanced technologies that it can use to expand upon its own logistics robot offerings. The automaker plans on expanding its presence into the humanoid robot market with the aim of developing humanoid robots for sophisticated services such as caregiving for patients at hospitals.

 

Picture: Twitter/@BostonDynamics

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