UK Markets open in 2 hrs 24 mins

SoftBank in talks to sell robot maker Boston Dynamics to Hyundai - Bloomberg News

·1-min read
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

(Reuters) - SoftBank Group Corp <9984.T> is in talks to sell robot maker Boston Dynamics Inc to Hyundai Motor Co <005380.KS>, Bloomberg News reported on Monday, citing people familiar with the matter.

Terms of the deal were yet to be finalized, but could be valued as much as $1 billion (£760 million), the report said. (https://bloom.bg/2Idg55M)

Boston Dynamics' products include Spot, a robot that navigates terrain helping in inspection tasks and Handle, for moving boxes in the warehouse.

The robot maker was bought by Google-parent Alphabet Inc <GOOGL.O> in 2013 and sold to SoftBank in 2017.

Boston Dynamics and Hyundai did not immediately respond to Reuters requests for comment. SoftBank declined to comment.

(Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi and Shailesh Kuber)