Hyundai bought it 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 has announced an agreement to acquire an 80% controlling interest in Boston Dynamics, while 20% will be held by SoftBank through one of its subsidiaries.
Financials were not disclosed terms beyond Boston Dynamics' valuation at $1,1 billion.
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.
Founded in 1992, Boston Dynamics focuses on advanced robotic designs suitable for commercial applications applications. In particular, the company works on robotics suitable for hazardous 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"
The headquarters of Boston Dynamics, in Boston and in Valley, which is also a factor in Hyundai's acquisition of the company.
