Reports are linking SoftBank Group Corporation with ongoing talks for a possible sale of Boston Dynamics Incorporate to Hyundai Motor Company, according to Bloomberg sources. The proposed terms would give Hyundai control of the robotics company in a deal valued at $1 billion.
- Hyundai has hinted it is continuously exploring various investment and partnership opportunities.
- Boston Dynamics “continues to excite partners interested in exploring a deeper commercial relationship….” according to the company’s emailed statement responding to the deal.
- A sale of Boston Dynamics would mark another twist in the company’s trajectory after its initial acquisition by Google in 2013 and subsequent sale to SoftBank in 2017.
- Boston Dynamics has functioned as a research organization, producing technologically advanced machines but has been unprofitable.
SoftBank stock is declining but Hyundai Motor stock is gaining. 9984: TYO is down 4.73%, 005380: KRX is up 0.58%.