SoftBank unit to buy Boston Dynamics from Alphabet Inc

[BENGALURU] Japan's SoftBank Group Corp said on Friday that a subsidiary of the company has agreed to buy robotics firm Boston Dynamics from Alphabet Inc.

SoftBank's shares rose 7.3 per cent to 9,464 yen after the deal was announced. The company did not disclose the terms of the transaction.

"Smart robotics are going to be a key driver of the next stage of the information revolution, and Marc (Raibert) and his team at Boston Dynamics are the clear technology leaders in advanced dynamic robots," SoftBank Group Chairman Masayoshi Son said in a statement. Mr Raibert is CEO and founder of Boston Dynamics.

As part of the transaction, SoftBank will also acquire Japanese bipedal robotics company Schaft from Alphabet.

"Robotics as a field has great potential, and we're happy to see Boston Dynamics and Schaft join the SoftBank team to continue contributing to the next generation of robotics," an Alphabet spokesperson said.

REUTERS