Hyundai Motor Group will fully acquire Boston Dynamics by purchasing the 9.65 percent share owned by Japan's SoftBank.
With the acquisition, the group will hasten its growth in the robotics sector while also advancing the preparations for a forthcoming initial public offering (IPO) of the robotics division.
Also Read: Indonesia and Australia Expand Audit Cooperation
The group announced that SoftBank had utilized its put option to divest its remaining 9.65 percent interest in Boston Dynamics as per their sale and purchase agreement established in 2020.
In 2020, Hyundai Motor Group purchased an 80 percent ownership of Boston Dynamics from SoftBank for approximately 1 trillion won ($674 million). According to the agreement, SoftBank could sell its leftover stake to Hyundai Motor Group if Boston Dynamics did not go public in the US.
SoftBank's ownership was subsequently reduced to 9.65 percent due to capital expansions and further investments by Hyundai Motor Group. Aside from SoftBank, HMG Global, a collaboration between Hyundai Motor, Kia, and Hyundai Mobis, possessed a 56.3 percent share in Boston Dynamics, with Hyundai Motor Group Executive Chair Chung Euisun owning 22.5 percent and Hyundai Glovis holding 11.25 percent.
Hyundai Motor Group stated it is evaluating the acquisition per internal protocols. The terms of the agreement were not revealed, but the deal is estimated to be valued at around 500 billion won.
Also Read: LS Electric and Infineon Team Up to Power AI Data Center Boom
Boston Dynamics stands as a prominent figure in robotics and humanoid tech, with its humanoid robot Atlas gaining significant notice for showcasing its sophisticated abilities in both industrial sectors and notable events like the 2026 FIFA World Cup.
Hyundai Motor Group plans to deploy Atlas at Hyundai Motor Group Metaplant America and conduct the robot’s on-site validation across production processes at the plant. The company plans to begin using the robot for sorting parts in 2028 and expand its role to parts assembly starting in 2030.
Securities firms estimate Boston Dynamics' valuation at up to 100 trillion won. Even if Hyundai Motor Group pays more than 500 billion won for the remaining stake, the acquisition could generate substantial upside if Boston Dynamics eventually goes public.
Also Read: Nippon Paint Bids $8.55 Billion for AkzoNobel’s Unit
Hyundai Motor Group has not officially announced plans for a Boston Dynamics IPO, but industry officials say the acquisition will simplify the company's future capital-raising and listing structure by eliminating the last remaining outside shareholder.
However, the market does not expect the IPO to take place in the near future as SoftBank would likely have retained its stake if a listing were imminent, rather than exercising the put option. Rumors are circulating that the IPO may take place in 2028, but Hyundai Motor Group said “nothing has been determined.”