Hyundai is buying a controlling stake in robot maker, Boston Dynamics, from SoftBank. The deal values Boston Dynamics at $1.1 billion and is a major step into consumer robotics for Hyundai.

According to a report from Bloomberg, the deal has been in the making for a while. The purchase will give Hyundai approximately 80 percent stake in the company while Softbank will retain just about 20 percent of the company via an affiliate.

Boston Dynamics itself began as a spin-off from the Massachusetts Institute of Technology (MIT). The company has created robots funded by DARPA.

Also read:

– Committee Of Experts Recommends That FDA Authorises Pfizer and BioNTech COVID-19 Vaccine
– Apple Might Be Ready To Introduce A 10.5-Inch iPad In 2021 Spring
– Cisco And Task Systems Preach Smart And Secure Connectivity To Businesses

So far, its main achievements are Atlas, a humanoid bipedal robot that can run and do backflips, and Spot, a smaller quadrupedal robot dog that has undergone testing in a variety of scenarios, like sheep herding and assisting health care workers during the pandemic.

The company sold a Spot robot in June 2020 for $74,500. Spot found use in businesses looking for an automated way to patrol and inspect warehouses. Despite that success, Boston Dynamics has never been profitable. However, with this takeover and a new CEO, the company will look to change that.

Hyundai’s previous foray into industrial robots has been focused on factories in its automotive comfort zone. Its efforts include building a ‘car with legs’, a concept that the company felt could be used by first responders in traveling across difficult terrain.

For your daily dose of tech, lifestyle, and trending content, make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us at info@techtalkwithtdafrica.com and join our channel on Telegram at Plat4om. Finally, don’t forget to subscribe to our YouTube channel HERE.