The Hyundai Motor Group has announced it will purchase the remaining 9.65% stake owned by SoftBank in Boston Dynamics for $325 million. If this acquisition takes place, Hyundai will fully own Boston Dynamics, a leading American robotics firm.
According to a report by Maeil Business Newspaper, Hyundai’s board is expected to meet on June 22 to approve the purchase. The report says SoftBank wants to sell its remaining stake by using a previously agreed option that allows it to sell its shares to Hyundai.
Right now, Hyundai Motor Group already has more than 90% ownership of Boston Dynamics via Hyundai Motor, Kia, Hyundai Mobis, Hyundai Glovis, and Chairman Euisun Chung of the Hyundai Group. So far, no comment has been released from either Hyundai or SoftBank regarding the news.
Boston Dynamics is an American company that makes some of the most advanced robots in the world. It started back in 1992 as a project at MIT, one of the best tech institutions. Today, they are known for building robots that can move just like humans and animals. Instead of being stuck in one place, their robots use smart sensors and AI to run, jump, climb over obstacles, and walk through difficult spaces perfectly!
