Robots are taking over in more ways than one. Not only do they serve as an amazing way for production lines to be more productive but over the recent past, they’ve even acted as “a man’s best friend.”
Boston Dynamics is best-known for the development of its Robot Dog. A stellar piece of engineering that moves, jumps, and acts like a dog. Great news for people allergic to the furry animals.
Recently, mega-fund SoftBank has needed liquidity as the pandemic has crippled the business. The Japanese telecom-VC hybrid has made the decision to sell off pieces of its portfolio to try and get some much-needed cash on hand.
According to Reuters, SoftBank has decided to unload its stake in Boston Dynamics. South Korean carmaker Hyundai Motor Group will be the one picking up the pieces by picking up an 80% stake in Boston Dynamics for $880 million. This has cemented a valuation of $1.1 billion for the robotics company.
It’s going to be fascinating to see what Hyundai has planned for this recent acquisition. It’s being said that this move will enable the company to streamline its plant operations, cutting its dependence on human employees and battling the unions which represent them.
Is this a good move for Hyundai? Or should they get the robot dog to fetch the money they just threw down the drain?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.