Hyundai Buys Waltham-Based Boston Dynamics

Waltham MA

29 June, 2021

2:59 PM

Description

WALTHAM, MA —The Waltham-based company behind the futuristic, if somewhat intimidating, robot dog called "Spot" has a new owner. Hyundai bought Boston Dynamics, a 300-person company valued at $1.1 billion, according to a news release. The release did not say how much the company paid, but multiple news outlets reported it shelled out $880 million to ink the deal. "Hyundai Motor Group believes that the robotics market has potential for significant growth in the future," the company said in a statement in December, when plans were first announced. The South Korean tech giant and automaker now has an 80 percent stake in the company, leaving the other 20 percent to Softbank Group, the company's former owner. "Boston Dynamics' commercial business has grown rapidly as we've brought to market the first robot that can automate repetitive and dangerous tasks in workplaces designed for human-level mobility," said Boston Dynamics CEO Robert Playter in the statement. "We and Hyundai share a view of the transformational power of mobility and look forward to working together to accelerate our plans to enable the world with cutting edge automation, and to continue to solve the world's hardest robotics challenges for our customers." The robot dogs are designed to perform tasks in situations where humans can't. In 2019, Massachusetts State Police Tested Boston Dynamics' Robot Dog for use during police work. And this year the technology has been used this year amid the pandemic to encourage distancing in parks. Boston Dynamics was a 1992 spin off from Massachusetts Institute of Technology. In 2013, Google bought the company and then in 2017, they sold it to SoftBank. The company wasted no time in alluding to the acquisition, releasing a commercial featuring Boston Dynamics' dog. Previous coverage: Robot Dog Is Enforcing Social Distancing At A ...Waltham Company's Dog-Like Robots On Sale For $75KMA State Police Tested Boston Dynamics' Robot DogBoston Dynamics Robot Runs, Leaps: Video - PatchWould You Buy A Robot Dog Named Spot? Jenna Fisher is a news reporter for Patch. Got a tip? Email [email protected]