Hyundai Motor Group Buys Boston Dynamics from SoftBank

Boston Dynamics develops and deploys highly mobile robots with advanced mobility, dexterity and intelligence, enabling automation in unstructured or hard-to-traverse spaces, from industrial plants and construction sites, to distribution centers and warehouses.

Hyundai Motor Group, Boston Dynamics, Inc. and SoftBank Group Corp. (TOKYO: 9984) announced today the completion of the Group’s acquisition of a controlling interest in Boston Dynamics from SoftBank, following regulatory approvals and other customary closing conditions. The deal valued the mobile robot firm at $1.1 billion. Additional financial details were not disclosed. Now, the Group holds an 80% stake in Boston Dynamics. SoftBank, through one of its affiliates, retains the remaining 20% share.

“By acquiring Boston Dynamics and securing a leading presence in the field of robotics, the Group takes another major step toward its strategic transformation into a Smart Mobility Solution Provider. To propel this transformation, the Group has invested substantially in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots,” said Hyundai Motor Group in a release.

“In the field of robotics, the Group aims to develop advanced technologies that enhance people’s lives and promote safety, thereby realizing the progress for humanity,” Hyundai Motor Group claimed.

The Group today also released a new video to reveal how it would further advance mobility for humanity incorporating Boston Dynamics’ expertise. The video is available on Hyundai’s youtube channel.