Hyundai acquires full ownership of Boston Dynamics by buying SoftBank's remaining stake for $325 million
By
Janet Harrison
Summary
Hyundai Motor Group is acquiring SoftBank's remaining 9.65% stake in Boston Dynamics for $325 million, making the robotics company a wholly owned subsidiary. The deal, expected to be approved on June 22, gives Hyundai full control over Boston Dynamics, which is one of the few humanoid robotics companies with real-world factory applications. This move completes Hyundai's ownership consolidation following its initial majority stake purchase from SoftBank.
Source
Hacker NewsHyundai acquires full ownership of Boston Dynamics by buying SoftBank's remaining stake for $325 millionstartupfortune.comKey quotes
· 3 pulledHyundai's move to buy SoftBank's remaining 9.65% stake in Boston Dynamics for $325 million is not just cleanup from an old deal.
It gives Hyundai full control of one of the few humanoid robotics companies with real factory work in sight.
Hyundai Motor Group is expected to approve the purchase on June 22, closing out SoftBank's last piece of Boston Dynamics and turning the Waltham, Massachusetts robotics company into a wholly owned Hyundai business.
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