Η Hyundai bought Boston Dynamics by SoftBank Group in a $ 1,1 billion deal.
It was announced today after rumors first started circulating in November. Hyundai Motor Group announced that an agreement is in place acquisitionof a control percentage of 80% in Boston Dynamics, while 20% will be held by SoftBank through one of its subsidiaries.
Financial terms beyond Boston Dynamics' valuation of $1,1 billion were not disclosedmillions dollars.
Hyundai says the deal "will mark another milestone in its strategy to become a smart vehicle solution provider" and complement existing investments in eco-vehicles, smart factories - otherwise known as Industry 4.0 - artificial intelligence (AI) and robotics.
Boston Dynamics was founded in 1992 and focuses on advanced robotic designs suitable for commercial applications. In particular, the company works for robotics suitable for dangerous environments, creating products with high levels of dexterity and mobility.
Hyundai says Boston Dynamics has huge growth potential and its portfolio contains "multiple key technologies" that interest the car group. Specifically, there are technologies related to "perception, navigation and intelligence"
Boston Dynamics headquarters, in Boston and Silicon Valley, which is also a factor in Hyundai's acquisition of the company.
