Hyundai has officially confirmed the purchase of 80% of Boston Dynamics: the issue price is $ 1.1 billion

This week, media outlets, citing their own sources, reported that the South Korean car company

Hyundai Motor buys robot manufacturer Boston Dynamics. Hyundai now officially confirms this information.

Hyundai will receive a controllingan 80% stake in Boston Dynamics, the remaining 20% will remain with the current owner of SoftBank. This will cost Hyundai $ 1.1 billion, although a smaller amount was initially reported.

The statement said that Hyundai's investmenthelp in the development of robots for service and logistics purposes. The company also plans to develop humanoid robots for caring for patients in hospitals and is interested in autonomous driving and smart factories. In turn, Boston Dynamics speaks of "a mission to push the boundaries of modern robots and create rewarding use cases in a smarter, more connected world."

The deal should be closed by June 2021, but after the approval of the regulator.

Recall that Hyundai will become the third owner of Boston Dynamics after Google (2013) and SoftBank (2017).

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