The South Korean multinational automotive manufacturer, The Hyundai Motor Company, will buy from the Japanese corporation SoftBank the right to manage its subsidiary company — Boston Dynamics, American engineering and robotics design company. Hyundai Motors will acquire 80% of the shares, while 20% will still belong to SoftBank.
We want to remind you that the American robot manufacturer was initially spun off from Massachusetts Institute of Technology in 1992, then got acquired by Google owner Alphabet in 2014, and then sold to SoftBank in 2017.
Boston Dynamics became famous for Spot, a nimble four-legged robot that can trot around the office, home, or outdoors. It can map its environment, sense and avoid obstacles, climb, and even help to diagnose COVID-19.
Also, Boston Dynamics unveiled the Atlas, a dynamic humanoid robot, and the Handle, the mobile robot for logistics services for moving boxes in the warehouse.
The deal will allow Hyundai to use Boston Dynamics' robotic technology to expand production automation in its auto factories and develop autonomous vehicles such as self-driving cars, drones, and delivery robots.
Back in early November, it was reported that Hyundai was interested in buying the robot manufacturer. On December 10, the board meeting was held, and the deal was estimated at $921 million.