Hyundai buys controlling interest in Boston Dynamics

Hyundai buys controlling interest in Boston Dynamics

It’s official. Boston Dynamics is changing into a part of the Hyundai household (pending regulatory approval, naturally). The Waltham, Massachusetts-based robotic maker confirmed that the South Korean expertise firm is buying controlling curiosity in a press launch at the moment. The deal, which values the corporate at $1.1 billion, offers Hyundai Motor Group an 80% stake, with SoftBank controlling the remaining 20%.

The transaction marks the Spot-maker’s third change of arms in a mere seven years. After practically a quarter-century working as a analysis agency (with some massive monetary assist from organizations like DARPA), it bought to Google in 2013, changing into a part of a brand new robotics wing led by then-executive Andy Rubin.

After Google X Robotics was largely dissolved, Boston Dynamics modified arms in 2017, changing into a subsidiary of Japanese funding big, Softbank. It was an odd match for the corporate, and a tough yr for Softbank doubtless hasn’t helped issues. At very least, Hyundai is a extra logical house for the corporate, after being owned by a agency whose best-known robotic is Pepper, the humanoid hospitality ‘bot.

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Hyundai reportedly in talks to purchase SoftBank-owned Boston Dynamics

As we famous whereas reporting on earlier rumors in regards to the acquisition, Hyundai has been making some massive investments within the class. The checklist features a current three way partnership with Aptiv to commercialize autonomous driving techniques. There’s additionally the lately introduced final mobility autos or UMV – a borderline sci-fi automobile with legs.

“Boston Dynamics’ industrial enterprise has grown quickly as we’ve delivered to market the primary robotic that may automate repetitive and harmful duties in workplaces designed for human-level mobility,”CEO Rob Playter stated in a launch tied to the deal. “We and Hyundai share a view of the transformational energy of mobility and look ahead to working collectively to speed up our plans to allow the world with leading edge automation, and to proceed to unravel the world’s hardest robotics challenges for our clients.”

Boston Dynamics, after all, has been blurring the traces between science fiction and actuality for a number of many years now. More lately, nevertheless, it’s taken a a lot stronger curiosity in commercializing its superior applied sciences. Under Softbank, the corporate launched Spot, a quadruped robotic that attracts on years of robotic innovation, together with the enduring Big Dog.

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Spot went up on the market final yr in restricted portions. It’s now obtainable for anybody within the U.S. with $74,500 burning a gap of their pocket. The firm can also be pushing to commercialize its wheeled Handle robotic for warehouse and achievement associated functions. That robotic is due out a while subsequent yr. While the sophistication and ensuing worth tags for the corporate’s robots have drawn a good bit of skepticism, buyers have taken elevated curiosity in robots and automation corporations within the wake of year-long COVID-19-related shutdowns.

“Hyundai Motor Group will present Boston Dynamics a strategic companion affording entry to Hyundai Motor Group’s in-house manufacturing functionality and price advantages stemming from efficiencies of scale,” in accordance with the discharge. “Boston Dynamics will profit considerably from new capital, expertise, affiliated clients, and Hyundai Motor Group’s international market attain enhancing commercialization alternative for its robotic merchandise.”

The deal is anticipated to shut in by June.

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Boston Dynamics places its robotic quadruped Spot up on the market


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