Hyundai Motor Group plans to acquire SoftBank's approximately 10% stake in Boston Dynamics, making the robotics company a wholly owned subsidiary. The move follows Hyundai's 80% acquisition of Boston Dynamics in 2021.
Hyundai announced Thursday it would purchase SoftBank Group's remaining stake in Boston Dynamics, consolidating full ownership of the advanced robotics firm.
Hyundai first acquired an 80% majority stake in Boston Dynamics in 2021 for $1.1 billion, valuing the company at $1.38 billion. SoftBank had held its stake since Boston Dynamics' prior ownership under Alphabet.
The acquisition aligns with Hyundai's broader robotics strategy. Boston Dynamics, known for its humanoid and quadruped robots, has developed technologies applicable to manufacturing, logistics, and research applications.
Full ownership removes complications from managing multiple shareholders and allows Hyundai to pursue unified R&D initiatives. The company has positioned robotics as a core element of its future mobility and automation efforts.
Financial terms for acquiring SoftBank's stake were not disclosed. The transaction remains subject to regulatory approval.
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