Hyundai Motor Group is moving to buy SoftBank Group Corp.’s remaining stake in Boston Dynamics, making the robotics unit wholly owned, according to reports across multiple outlets. Hyundai’s planned acquisition targets SoftBank’s 9.65% interest in Boston Dynamics, which SoftBank holds after earlier dilution from capital increases and additional investments by Hyundai affiliates. The Korea Times reports that SoftBank exercises a put option included in a sale and purchase agreement signed in 2020. Under the original 2020 transaction, Hyundai Motor Group acquired an 80% stake in Boston Dynamics for about 1 trillion won (around $674 million), and SoftBank retained the right to sell its remaining stake to Hyundai if Boston Dynamics was not listed in the United States. The option is reported to be set to expire on July 20. Bloomberg and other outlets link the move to Hyundai’s effort to accelerate commercialization of Boston Dynamics’ Atlas humanoid robot and expand its broader robotics ambitions. With SoftBank’s stake expected to be acquired, Hyundai Motor Group is positioned to prepare for an anticipated IPO of the robotics affiliate, as noted by the Korea Times.
Hyundai Motor Group to acquire SoftBank’s remaining Boston Dynamics stake
Hyundai Motor Group is moving to buy SoftBank Group Corp.’s remaining stake in Boston Dynamics, making the robotics unit wholly owned, according to reports across multiple outlets. Hyundai’s planned a...
- Hyundai Motor Group will acquire SoftBank’s remaining stake in Boston Dynamics.
- SoftBank’s stake size is reported as 9.65% (around 10% in some coverage).
- Hyundai Motor Group already holds 80% of Boston Dynamics from a 2020 purchase; SoftBank’s stake later diluted through further investments.
- Reports say SoftBank exercises a put option under a 2020 sale agreement; the option’s expiry is reported as July 20.
- The acquisition is described as supporting faster commercialization of Boston Dynamics’ Atlas humanoid robot and potential IPO preparations.
Hyundai Motor Group will take full ownership of Boston Dynamics by acquiring a 9.65 percent stake held by Japan's SoftBank. Through the acquisition, the group will accelerate its expansion into the robotics business while speeding up preparations for an anticipated initial public offering (IPO) of the robotics affiliate. The group said Thursday that SoftBank had exercised its put option to sell its remaining 9.65 percent stake in Boston Dynamics under their sale and purchase agreement signed in 2020. Hyundai Motor Group acquired an 80 percent stake in Boston Dynamics from SoftBank at around 1 trillion won ($674 million) in 2020. Under the deal, SoftBank had the right to sell its remaining stake to Hyundai Motor Group if Boston Dynamics was not listed in the United States. The option is set to expire on July 20. SoftBank's stake was later diluted to 9.65 percent through capital increases and additional investments by Hyundai Motor Group. Excluding SoftBank, HMG Global, a joint investment firm between Hyundai Motor, Kia and Hyundai Mobis, held a 56.3 percent stake in Boston Dynamics, foll
1 hour agoThe centrepiece of the deal is the Atlas humanoid robot, with plans to build capacity for up to 30,000 units annually.
1 hour agoHyundai Motor Co. and its affiliates are moving to acquire SoftBank Group Corp.’s remaining stake in the automaker’s Boston Dynamics unit, as the Seoul-based company accelerates commercialization of its Atlas humanoid robot.
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