Hyundai finishes Boston Dynamics acquisition from SoftBank

SoftBank Group said on Monday that Hyundai Motor Group had finished the acquisition of robotics firm Boston Dynamics.

The deal, which was announced in December 2020 and valued the maker of the “Spot” robot at $1.1 billion. It gives the automaker about 80% stake with SoftBank retaining the remaining 20%.

Hyundai had then said on that the deal would help it expand automation in its automobile factories and design autonomous cars, drones, and robots, as it seeks to transform itself from a manufacturer into a broader mobility service provider.

Boston Dynamics, which was spun out from the Massachusetts Institute of Technology in 1992, was purchased by Google in 2013 and sold to SoftBank in 2017.