Hyundai to buy SoftBank’s remaining stake in Boston Dynamics for $325 million, newspaper says
FILE PHOTO: The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025. REUTERS/Issei Kato/File Photo
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
SEOUL, June 19 : Hyundai Motor Group plans to buy SoftBank Group’s remaining 9.65 per cent stake in Boston Dynamics for $325 million to make the U.S. robotics firm a wholly owned subsidiary, South Korea’s Maeil Business Newspaper reported on Friday.
Hyundai Motor is expected to convene a board meeting on June 22 to approve the purchase, the newspaper said, citing unnamed industry sources.
The report said SoftBank had told Hyundai that it would like to exercise its rights to sell its remaining stake in Boston Dynamics under a put option agreed when it sold Boston Dynamics to Hyundai.
Hyundai Motor and SoftBank did not immediately respond to requests for comment.
Hyundai Motor Group, including Group Executive Chair Euisun Chung and affiliates Hyundai Motor, Kia, Hyundai Mobis and Hyundai Glovis, already own just over 90 per cent of the robot maker, the report said.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
About The Author
