Hyundai confirms its $1.1 billion acquisition of Boston Dynamics

Boston Dynamics is now officially part of Hyundai Motor Group. The Korean conglomerate has struck a deal with Softbank to acquire a controlling interest -- an 80 percent stake -- in the robotics company for $1.1 billion. Softbank will retain a 20 percent stake through one of its affiliates. The companies have been in talks since at least early November, and the deal is expected to be finalized in June 2021. According to their announcement, Hyundai decided to purchase a controlling stake in the robotics firm, because it "possesses multiple key technologies for high-performance robots equipped with perception, navigation, and intelligence."