Hyundai completes Boston Dynamics purchase from SoftBank

TOKYO (Reuters) - SoftBank Group Corp said on Monday South Korea's Hyundai Motor Group had completed the acquisition of robotics firm Boston Dynamics from the Japanese conglomerate.

The deal, which was announced last December and valued the maker of the "Spot" robot at $1.1 billion, gives Hyundai an 80% stake with SoftBank retaining the remaining 20%.

(Reporting by Sam Nussey; Editing by Edmund Blair and Louise Heavens)

FILE PHOTO: A Boston Dynamics
FILE PHOTO: A Boston Dynamics' four-legged robot Spot is shown as a prototype which is using an experimental 5G network to work in several industrial environments such as forest, agricultural, mining and construction places, according to the organisers, in Santiago, Chile June 3, 2021. REUTERS/Ivan Alvarado

FILE PHOTO: SoftBank Corp
FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon

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