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Samsung Electronics said on Tuesday that it has become the largest shareholder of South Korea-based robotics maker Rainbow Robotics, increasing its stake from 14.7% to 35% for KRW 267 billion (about $181 billion).
The electronics giant, which paid KRW 86.8 billion for the 14.7% stake in 2023, said it is acquiring the stake to bolster its robotics department and speed up development of humanoid robots. Rainbow Robotics will be integrated as a Samsung subsidiary, and the deal is expected to be completed in February 2025.
The company also said it would establish a Future Robotics Office directly reporting to the chief executive officer. The deal also enables Rainbow Robotics to expand to overseas markets by leveraging Samsung’s reach.
Rainbow, founded in 2011 by researchers at the Korea Advanced Institute of Science & Technology (KAIST) Center, has developed dual-arm mobile manipulators and autonomous mobile robots for applications in manufacturing and logistics. It has 86 employees.
The founding member of Rainbow, Dr. Jun-ho Oh, the former largest shareholder of the robotics company before the deal and an honorary professor at KAIST, will stay on board to lead a new effort called the Future Robotics Office at Samsung, and serve as an advisor.
Samsung is only the latest to enter the race to develop humanoid robots that can do more autonomously. Microsoft and OpenAI are planning to use their tech for a humanoid robot, and Tesla earlier this year showed off its own take on robots, Optimus. Nvidia, too, has plans to release a new line of compact computers for humanoid robots, called Jetson Thor, next year.
In 2022, Samsung said that robotics, along with AI, 5G, and automotive electronics, would be a key part of its future initiatives, suggesting that potential acquisitions in these fields may be on the horizon.
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