Hyundai has agreed to buy an 80% stake in robot maker Boston Dynamics from SoftBank, the South Korean automaker announced on Friday, December 11. The deal values the robot firm at US$1.1 billion, Hyundai said, suggesting it offered US$880 million for the 80% stake.
Boston Dynamics is best known for its robot dog, Spot, which went viral.
Hyundai can leverage robot technology to expand automation at its unionized car factories, as well as design autonomous vehicles like self-driving cars, drones, and delivery robots, reported The Financial Times.
Google bought Boston Dynamics, a pioneer in mechanical robotics that originated at the Massachusetts Institute of Technology, in late 2013, and later sold it to SoftBank in 2017.
At the time, SoftBank agreed to buy Boston Dynamics as well as Japanese robotics group Schaft in a deal valued at more than US$100 million.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC and State Attorneys General Sue John Deere Over Repair Restrictions in Antitrust Case
Jan 15, 2025 by
CPI
Enbridge Wins Legal Battle Against Ducere’s Antitrust Allegations
Jan 15, 2025 by
CPI
GOP Pushes for Antitrust Authority Consolidation Under DOJ in New Legislation
Jan 15, 2025 by
CPI
Canadian Government Approves Bunge-Viterra Merger with Conditions
Jan 15, 2025 by
CPI
SEC Sues Elon Musk Over Delayed Disclosure of Twitter Stock Ownership
Jan 15, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand