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Hyundai takes control of Boston Dynamics in $1.1B deal

Hyundai takes control of Boston Dynamics in .1B deal
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Hyundai takes control of Boston Dynamics in .1B deal

Hyundai takes management of Boston Dynamics in $1.1B deal

Hyundai is formally buying a controlling stake in robotic maker Boston Dynamics from SoftBank in a deal that values the corporate at $1.1 billion, the corporate introduced right now. The deal has been within the works for some time, based on current a report from Bloomberg, and marks a significant step into client robotics for Hyundai. Hyundai is taking roughly an 80 % stake within the firm whereas its earlier proprietor, Softbank, will retain round 20 % by means of an affiliate.

Hyundai says its funding will assist its improvement of service and logistics robots, however that over time it hopes to construct extra humanoid robots for jobs like “caregiving for sufferers at hospitals.” Different areas of curiosity embrace autonomous driving and sensible factories.

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Atlas, one other one Boston Dynamic’s robots.
Picture: Boston Dynamics

Boston Dynamics began as a spin-off from the Massachusetts Institute of Know-how. The corporate has created robots utilizing DARPA funding, like BigDog, however is greatest identified for the viral fame its robots have discovered on-line. Its two most important stars have been Atlas, a humanoid bipedal robotic that may run and do backflips, and Spot, a smaller quadrupedal “canine” that’s been examined in a wide range of eventualities, from sheep herding to helping well being care staff throughout the pandemic. The corporate began promoting Spot in June 2020 for $74,500, focusing on companies in search of an automatic approach to patrol and examine warehouses. Regardless of the viral fame, Boston Dynamics has by no means been worthwhile, which might change underneath a brand new CEO and Hyundai’s steering.

It’s been a protracted journey from its begin in 1992 to being valued at $1.1 billion. Boston Dynamics frolicked underneath Google, primarily centered on analysis and improvement, and extra not too long ago had a stint with SoftBank, a deal that former Boston Dynamics CEO Marc Raibert introduced with the lofty “mission to push the boundaries of what superior robots can do and to create helpful functions in a wiser and extra related world.”

Hyundai’s personal industrial robots have been centered on factories in its automotive consolation zone, together with a “automotive with legs” idea that the corporate imagined could possibly be utilized by first responders to journey throughout tough terrain.

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