Waltham-based robotics design company Boston Dynamics has once again drawn the attention of investors after it recently invited CBS's 60 Minutes team to visit its workshops.
Boston Dynamics has disrupted the robotics industry with models like Atlas, Spot and Stretch. Founded in 1992 after a spin-off from the prestigious Massachusetts Institute of Technology (MIT), the robotics company remains private to date. However, it seems investors are eagerly waiting for the company to hit the public domain.
Year 2021 has been quite a big year for initial public offerings (IPO). If this frenzy continues, Boston Dynamics could join the long queue of firms exploring the option of going public and use the proceeds to expand its business operations.
In June 2021, Hyundai Motor Group completed the acquisition of Boston Dynamics and took a controlling interest in the company from SoftBank Group Corp. (SoftBank).
At the time of completing the acquisition, the robotics company was valued at US$ 1.1 billion, although its other financial details were not revealed
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A little about Boston Dynamics
Robots have gained increasing global popularity over the years for their advanced mobility, efficiency and automation techniques. Amid this, Boston Dynamics has made a name as one of the pioneers in the robotics field.
As Hyundai is a leader in the automobile industry, it could transform Boston Dynamics into a Smart Mobility Solution Provider.
Artificial Intelligence and autonomous driving technologies are evolving rapidly, and the company might use Boston Dynamic's robotics technology to develop advanced technologies.
Under the acquisition deal, Hyundai and Boston Dynamics are expected to create a robotics value chain. The automobile maker plans to continue to expand the robotics company's product line, global sales and service footprint.
Last year, Boston Dynamics launched the sales of its first commercial robot Spot and hundreds of robots were sold in several industries like mining, oil and gas, manufacturing, and power utilities.
Is Boston Dynamics set to go public?
A Research and Markets report says that the worldwide robotics market was valued at US$ 49.94 billion in 2020. It is expected to grow at a compound annual growth rate (CAGR) of about five per cent by 2026, as per the research.
While there is no official communication from the company about an IPO, the evolving global robotics market could push Boston Dynamics to consider becoming a publicly-traded company after almost 20 years.
