SoftBank Group Corp. announced that it has agreed to sell most of its shares in Boston Dynamics, an American subsidiary that develops robots, to major Korean automobile manufacturer Hyundai Motor Co., Ltd. for about 60 billion yen.
According to the announcement, SoftBank Group has agreed to sell most of its shares in Boston Dynamics to Hyundai Motor Co., Ltd. of South Korea.
The sale amount is about 574 million dollars, which is about 60 billion yen in Japanese yen.
The sale is expected to be completed by June next year, and SoftBank Group will hold 20% of the shares after the sale is completed.
Boston Dynamics is an American venture company known for developing robots that move at high speeds using their feet, and was acquired by the SoftBank Group as it strengthened its investment in the robot field.
The company says that it aims to further develop its business by welcoming Hyundai Motor as a partner in the field of robot development by selling the shares this time.
"We are pleased to accelerate the commercial development of Boston Dynamics. The future is very bright and we will continue to invest in that growth," said Masayoshi Son.