This year we have seen many deals taking place. Some were due to businesses going bankrupt, while others were targeted towards acquisitions to expand their business. A recent report indicates that Hyundai Motors has officially acquired Boston Dynamics from Softbank.
The Japanese conglomerate agreed to see the robot maker for 1 trillion won (US$917 million) and that the acquisition was finalized at a board meeting yesterday. The rumors first started in November that both the companies were discussing the deal. Boston Dynamics is known for its robotic dog Spot, which it started selling in mid—2020 for $75,000.
CAS one might expect, the robotic dog can climb stairs, herd sheep, and pull a rickshaw. It was even reported that the robot helped healthcare providers remotely triage patients suspected to have COVID-19 at Boston’s Brigham and Women’s Hospital. Boston Dynamic has also developed a humanoid robot Atlas that’s agile enough to do handstands and parkour.
Hyundai Motor has been extraordinarily active in robotics and investing heavily in the development of AI. It has even vowed to invest a whopping 1.5 trillion won (US$1.4 billion) in the industry by 2025. Until now, the company has only focused on developing wheeled robots for factory use, but with its acquisition of Boston Dynamics, projects like Spot and Atlas will open new possibilities.
