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November 11, 2020 01:00 pm

Hyundai Reportedly In Talks To Buy Softbank-Owned Boston Dynamics

An anonymous reader quotes a report from TechCrunch: SoftBank Group Corp. is in talks to sell robot maker Boston Dynamics to Hyundai, people familiar with the matter said. Proposed terms of the deal would give the South Korean automaker control of the robotics company in a transaction valued at as much as $1 billion, said one of the people, all of whom asked not to be identified because the discussions are private. The terms have yet to be finalized, and the deal could fall apart, said the people. A sale of Boston Dynamics would mark another twist in the trajectory of a company that spun out of the Massachusetts Institute of Technology in the early 1990s and operated independently until Google bought it in 2013. It was sold again in 2017, that time to SoftBank. At times, Boston Dynamics has functioned more like a research organization than a business, churning out machines that are technologically advanced and whimsical but unprofitable. That includes Spot, a maneuverable dog-like robot. Videos of its creations regularly rack up millions of views on YouTube; however, the company has said it is not currently generating profits. By contrast, Hyundai makes highly practical industrial robots intended for factory use.

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