Hyundai Motor Group and SoftBank Group Corp have agreed on main terms of the transaction of which Hyundai Motor Group will acquire a controlling interest in Boston Dynamics in a deal that values the mobile robot firm at $1,461,152,000.

Under the agreement, Hyundai Motor Group will hold an approximately 80% stake in Boston Dynamics and SoftBank will retain an approximately 20% stake in Boston Dynamics after the closing of the transaction. By establishing a leading presence in the field of robotics, the acquisition will mark another major step for Hyundai Motor Group toward its strategic transformation into a Smart Mobility Solution Provider.

To propel this transformation, Hyundai Motor Group has invested substantially in development of future technologies, including in fields such as autonomous driving technology, connectivity, eco-friendly vehicles, smart factories, advanced materials, Artificial Intelligence (AI), and robots.

Advanced robotics offer opportunities for rapid growth with the potential to positively impact society in multiple ways. Boston Dynamics is the established leader in developing agile, mobile robots that have been successfully integrated into various business operations. The deal is also expected to allow Hyundai and Boston Dynamics to leverage each other's respective strengths in manufacturing, logistics, construction and automation.