Over the last few years, Boston Dynamics has developed some innovative advances in robotics. Now, car manufacturer Hyundai has completed the acquisition of the robotics company and all of its assets, including Spot the (slightly controversial in some quarters) robot dog.
Hyundai Acquires Boston Dynamics
Car manufacturer Hyundai has now officially acquired robotics company Boston Dynamics, following a deal that was made at the end of 2020. As announced in the official press release, the completed deal means that Hyundai now owns 80 percent stake of Boston Dynamics.
Hyundai's plan for the future after acquiring Boston Dynamics is to develop a "robotics chain" that covers manufacturing, construction and automation. Although Hyundai has explored robotics itself, it seems that the car manufacturer is interested in all of Boston Dynamics' other areas as well.
The acquisition deal has been in the works for some time now, and cost Hyundai $1.1 billion. In terms of deal sizes, that's a large amount to invest in acquiring another company. However, we've previously seen similar or even larger acquisitions in the tech world.
What Is Boston Dynamics, and What Does It Do?
Robotics company Boston Dynamics was first created from the Massachusetts Institute of Technology back in 1992. Google then acquired the company in 2013 under the Alphabet subsidiary, but later sold it to Japanese finance company Softbank in 2017. Even after the acquisition by Hyundai, Softbank is retaining the other 20 percent of Boston Dynamics.
Boston Dynamics is probably most well-known for Spot, the bright yellow robot dog that's been all over the internet. Spot was made available for consumer purchase in June 2020, although you'll need to shell out $74,500 to buy the robot. Most recently, the company has been criticized for allowing the police in some areas to use Spot in law enforcement.
Boston Dynamics' efforts into advanced robotics aim to positively impact society by making work safer and more productive. For example, Spot the robot dog could be sent to areas of emergency disasters to assist in search and rescue missions without putting more people in harms way.
Hyundai Is Accelerating Into Robotics
It's no secret that robots are the future, and car manufacturers have known this for years, around 45 percent of all manufacturing robots assist in car manufacturing. Hyundai's recent efforts with robotics outside the manufacturing process show an increasing interest into the field. The acquisition of Boston Dynamics only further enforces this.
With Hyundai accelerating into the market of robotics, it'll be interesting to see where the company goes next.