SoftBank Group Corp to buy two robotic businesses firms that build walking robots from Google’s parent company. Alphabet Inc adding to the Japanese company’s growing artificial intelligence.
As part of the transaction with Alphabet, SoftBank also agreed to buy Japanese bipedal robotics company Schaft. Shares of the company rose as much as 7.9 percent after the deal announced, hitting 17-year high.
SoftBank has embarked on an aggressive acquisition campaign to boost its research and development capabilities. The world’s largest private equity fund that seeks to invest in technologies. Expected to grow significantly in the near future, such as robotics and artificial intelligence.
SoftBank group is backing the $93 billion Vision Fund
The Vision Fund already has the right to acquire 25 per cent of SoftBank’s holdings in ARM Holdings, One Web, US-based online lender Social Finance and US chipmaker Nvidia.
Boston Dynamics has produced a number of robots that mimic human and animal movement. Including Atlas, humanoid model that co-ordinates motion and balance using its arms and legs. And can pick itself up off the ground when knocked over.
It is best known for building robots that look as if they belong in science-fiction movies. often co-developed or funded by the U.S. military. Its military projects would mean the acquisition is likely to be subject to regulatory approval. From Foreign Investment in the United States.
The company acquired by Google in 2013 during a robotics shopping. Led by Android creator Andy Rubin. But the team struggled to find its place within the tech giant after Rubin’s departure former Boston Dynamics employees said.