Hyundai to buy remaining Boston Dynamics stake for $325m

Hyundai Motor Group is set to acquire full ownership of Boston Dynamics, the renowned robotics company known for its Atlas humanoid robot. The South Korean automaker plans to purchase SoftBank's remaining 9.65% stake for approximately $325 million, pending board approval on June 22. Once completed, the transaction will transform the Waltham, Massachusetts-based firm into a wholly owned Hyundai subsidiary.

This acquisition finalizes a transaction initiated in 2021, when Hyundai paid roughly $880 million for an 80% stake in Boston Dynamics, valuing the company at about $1.1 billion at that time. SoftBank, which first bought the company from Alphabet in 2017, retained a minority interest and held a put option to sell its remaining shares, which it is now exercising.

The move comes as Boston Dynamics shifts its focus from viral video demonstrations to practical industrial applications under Hyundai's ownership. Earlier this year, at the Consumer Electronics Show in Las Vegas, the companies unveiled an electric version of the Atlas humanoid robot, which demonstrated the ability to stand, walk, and perform tasks under remote control. Production versions are slated to begin work at...