Hyundai Buys Boston Dynamics From SoftBank In $1.1 Billion Deal

south korean car giant hyundai motor institution has agreed to buy a controlling stake in boston dynamics, in a deal that values the u.s.-based robotic maker at $1.1 billion, from softbank organization.

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boston dynamics stated in a announcement that hyundai will preserve an eighty% stake in the company, while softbank will maintain the last 20%. hyundai is led through chairman euisun chung, who's one of the richest men in korea, with a net worth of $3.5 billion.

the deal will leverage boston dynamics’ and hyundai’s respective strengths in production, logistics and automation, the statement said, in addition to “lend synergies” to self sufficient motors. hyundai, which is the second-biggest conglomerate in korea after samsung, has bold plans to invest greater than $50 billion over the following five years to grow to be a "smart mobility answer provider," a wide plan that consists of driverless vehicles.

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boston dynamics stated in its statement that hyundai has already invested drastically within the development of destiny technologies, inclusive of in self reliant using, clever factories, artificial intelligence, robotics and eco-friendly automobiles. just closing month, hyundai struck a address ecu chemical large ineos to discover joint development of hydrogen era for the car maker’s hydrogen gas-cell automobiles.

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“the acquisition of boston dynamics might bring in-residence some of the marketplace-leading abilties, technologies and know-how, and provide a large increase for hyundai’s plans,” says yu yuansheng, a singapore-based totally senior analyst with lux research. yu factors to hyundai’s vest exoskeleton, a wearable robot to assist manufacturing unit workers it unveiled last yr. hyundai is now developing clinical robots to assist disabled human beings stroll, he adds.

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