Hyundai to Buy 80% of Robotics Firm Boston Dynamics for $1.1B

Hyundai will pay SoftBank $1.1 billion for an 80% interest in mobile robotics firm Boston Dynamics, said the companies Friday. SoftBank will keep a 20% interest through one of its subsidiaries, they said. Hyundai said the acquisition will be “another major step” toward its “strategic transformation” into a smart mobility solution provider. Hyundai “has invested substantially in development of future technologies,” including autonomous driving and vehicle connectivity, it said. The transaction is expected to close by June, said Hyundai and SoftBank.