Robotics company Boston Dynamics acquired by Hyundai
Robotics company Boston Dynamics is to be acquired by South Korean automotive manufacturer Hyundai.
Back in September of 2019, the company its Spot robotic dog, with abilities including rough-terrain navigation, obstacle avoidance, remote control and autonomous movement, which could be added to with specialised sensors for different industries.
Having been founded in 1992 as a spin-off from the Massachusetts Institute of Technology, it was acquired in 2013 by Google X, then Google’s research and development division. In 2017, it was transferred to Japanese serial startup investor SoftBank, which has been its steward ever since.
In , Euisun Chung, Chairman of Hyundai Motor Group, said: "We are delighted to have Boston Dynamics, a world leader in mobile robots, join the Hyundai team. This transaction will unite capabilities of Hyundai Motor Group and Boston Dynamics to spearhead innovation in future mobility. The synergies created by our union offer exciting new pathways for our companies to realize our goal - providing free and safe movement and higher plane of life experiences for humanity. We will also contribute to the society by enhancing its safety, security, public health amid global trends of aging society and digital transformation."
The deal from Hyundai is worth $1.1bn, with the company giving its rationale for the purchase as being the complementary technologies of the two, with Boston Dynamics’ robotics advances being of use in Hyundai’s autonomous vehicle, UAM and smart factory divisions. SoftBank will retain a 20% stake in Boston Dynamics.
"Boston Dynamics' commercial business has grown rapidly as we've brought to market the first robot that can automate repetitive and dangerous tasks in workplaces designed for human-level mobility. We and Hyundai share a view of the transformational power of mobility and look forward to working together to accelerate our plans to enable the world with cutting edge automation, and to continue to solve the world's hardest robotics challenges for our customers," said Robert Playter, CEO of Boston Dynamics.
(Image: Boston Dynamics)
Searching for the Top 100 Leaders in Technology
The search is on for the Top 100 Leaders in Technology 2021 – nominated by readers of Technology magazine and open to all.
The initiative has been launched and nominations are now open, with the final, prestigious Top 100 due to be announced during Technology and AI LIVE running 14-16 September, beamed from London to the world.
This latest, definitive list of the leading executives and influencers in the industry will be announced at the event and shared across social media channels, this website, and presented in a special supplement that honours all of those named in our annual list.
The Top 100 Leaders follows on from the well-received Top 100 Women in Technology that BizClik Media Group (BMG) – publishers of Technology magazine, AI magazine and a growing portfolio of industry-leading titles – produced in March this year to coincide with International Women’s Day.
“The Top 100 Women recognised the incredible and influential women driving our industry,” says Scott Birch, editorial director, BMG. “The success of that initiative encouraged us to recognise the Top 100 Leaders – individuals championing everything that we love about technology and embracing best practice that’s good for business.”
Nominations are already coming in, with some notable highlights including:
Rhonda Vetere - Herbalife
Bryan Smith - Expedient
Nominate your Top 100 Leader HERE
The deadline for nominations closes on Sunday 1 August 2021, and it is free to nominate. The Top 100 Leaders will be announced across our platforms and at the LIVE event.