Hyundai to buy SoftBank’s remaining stake in Boston Dynamics for $325 million, newspaper says
AI-summarised brief · reviewed before publication
Hyundai Motor Group plans to acquire SoftBank's remaining 9.65% stake in Boston Dynamics for $325 million, making the U.S. robotics firm a wholly owned subsidiary. The purchase is expected to be approved at a board meeting on June 22. Hyundai Motor Group already owns just over 90% of Boston Dynamics, with the remaining stake held by SoftBank. The acquisition is part of Hyundai's efforts to expand its presence in the robotics industry.
💡 Why It Matters
- · The acquisition solidifies Hyundai's control over Boston Dynamics, positioning the South Korean conglomerate as a major player in the robotics industry.
- · This strategic move underscores Hyundai's commitment to investing in emerging technologies and expanding its global presence.