Hyperdrive
Hyundai Motor Buys 80% of Robotics Firm Boston Dynamics
- SoftBank, affiliates to retain 20% interest in U.S. company
- South Korean group develops robots for practical use
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Hyundai Motor Group agreed to buy a controlling stake in Boston Dynamics Inc. in a deal that values the mobile robot firm at $1.1 billion.
Hyundai Motor Group, along with some associated companies and Chairman Euisun Chung, will acquire an 80% interest in the U.S. robotics company from SoftBank Group Corp., leaving the Japanese firm with a 20% share, the companies said in a statement Friday. The deal was first reported by Bloomberg News in November.