14 DAY TRIAL // Alphabet, Google's parent company, has decided to dump its robotics business by selling Boston Dynamics and SCHAFT to SoftBank.
The move isn't exactly a surprise, despite Alphabet having invested hundreds of millions of dollars into this sector. Back in 2013, Google was all about buying robotics companies and AI-makers to widen its horizons. Boston Dynamics cost Google an estimated $500 million, while SCHAFT's acquisition was never priced.
In March 2016, however, Alphabet was already on the path to selling Boston Dynamics, mostly because it had missed key military contracts and had little chances of actually bringing in a good revenue for the parent company. The sale of SCHAFT, however, is a bit more surprising since there were no signs Alphabet was upset with its evolution.
"Today, there are many issues we still cannot solve by ourselves with human capabilities. Smart robotics are going to be a key driver of the next stage of the Information Revolution, and Marc and his team at Boston Dynamics are the clear technology leaders in advanced dynamic robots. I am thrilled to welcome them to the SoftBank family and look forward to supporting them as they continue to advance the field of robotics and explore applications that can help make life easier, safer and more fulfilling," said Masayoshi Son, chairman and CEO of SoftBank group.
The terms of the sale have not been disclosed, but it does seem that SCHAFT's acquisition is more of an afterthought since most of the announcement centers around Boston Dynamics.
Boston Dynamics, equally happy with the move
The paper further goes to quote Marc Raibert, CEO and founder of Boston Dynamics, who expressed his excitement over the transaction, declaring that they "look forward to working with SoftBank in our mission to push the boundaries of what advanced robots can do and to create useful applications in a smarter and more connected world."
SoftBank is a global technology company which works with a number of companies, including smart robotics makers, Internet of things companies, clean energy providers, AI, Internet services and telecommunications, to name a few.