Hyundai Motor Group buys controlling stake within the robotech firm Boston Dynamics- Expertise Information, AFunTab
TechSamvadDec 16, 2020 11:40:34 IST
Hyundai Motor Group and SoftBank Group Corp (SoftBank) on 11 December 2020 introduced their acquisition of a controlling stake in Boston Dynamics in a deal that values the cell robotic agency at $1.1 billion. Monetary phrases weren’t disclosed. Below the settlement, Hyundai Motor Group will maintain an roughly 80 % stake in Boston Dynamics and SoftBank, by way of considered one of its associates, will retain an roughly 20 % stake in Boston Dynamics after the closing of the transaction.
Hyundai Motor Group’s associates, particularly, Hyundai Motor Co, Hyundai Mobis Co and Hyundai Glovis Co, and Hyundai Motor Group Chairman Euisun Chung respectively participated within the acquisition.
“We’re delighted to have Boston Dynamics, a world chief in cell robots, be a part of the Hyundai workforce. This transaction will unite capabilities of Hyundai Motor Group and Boston Dynamics to spearhead innovation in future mobility. The synergies created by our union supply thrilling new pathways for our corporations to understand our objective – offering free and secure motion and better airplane of life experiences for humanity,” mentioned Euisun Chung, Chairman of Hyundai Motor Group in a press launch.
“We may even contribute to the society by enhancing its security, safety, public well being amid international tendencies of ageing society and digital transformation,” Chung added.
Masayoshi Son, Consultant Director, Company Officer, Chairman & CEO of SoftBank Group mentioned, “Boston Dynamics is on the coronary heart of good robotics. We’re thrilled to accomplice with Hyundai, one of many world’s main international mobility corporations, to speed up the corporate’s path to commercialization. Boston Dynamics has a really brilliant future and we stay invested within the firm’s success.”
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