Hyundai Motor Group and SoftBank Group have agreed on the main terms of a transaction through which Hyundai Motor Group will acquire a controlling interest in Boston Dynamics in a deal that values the world’s leading creator of creepy robots at $1.1 billion.
The deal came as Hyundai Motor Group envisions the transformation of human life by combining world-leading robotics technologies with its mobility expertise. Financial terms were not disclosed.
Under the agreement, Hyundai Motor Group will hold an approximately 80 percent stake in Boston Dynamics and SoftBank, through one of its affiliates, will retain an approximately 20 percent stake in Boston Dynamics after the closing of the transaction. [Read more…] about Hyundai to acquire controlling stake in Boston Dynamics from SoftBank