Hyundai Motor Group (the Group), Boston Dynamics, Inc. and SoftBank Group Corp. (SoftBank), today announced the completion of the Group’s acquisition of a controlling interest in Boston Dynamics from SoftBank, following the receipt of regulatory approvals and other customary closing conditions. The deal valued the mobile robot firm at $1.1 billion. Additional financial details were not disclosed.

Post-closing, the Group holds an 80 percent stake in Boston Dynamics and SoftBank, through one of its affiliates, retains the remaining 20 percent stake.