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Samsung pays $181M to become largest shareholder of Rainbow Robotics
Samsung Electronics has announced it will acquire a significant stake in South Korea-based robotics maker Rainbow Robotics for KRW 267 billion (approximately $181 million). The deal sees the electronics giant increase its stake from 14.7% to 35%, solidifying its position as the largest shareholder.
The acquisition is part of Samsung’s broader strategy to bolster its own robotics department and accelerate the development of humanoid robots. Rainbow Robotics, founded in 2011 by researchers at the Korea Advanced Institute of Science & Technology (KAIST) Center, has developed innovative robotic solutions for applications in manufacturing and logistics.
As a result of this deal, Rainbow Robotics will be integrated as a Samsung subsidiary, and the companies expect to complete the acquisition by February 2025. The partnership also enables Rainbow to expand its reach into international markets, leveraging Samsung’s global presence.
The acquisition is significant, given the recent developments in robotics innovation. Microsoft and OpenAI are reportedly working on humanoid robots that can do more autonomously, while Tesla showcased its own robotic concept earlier this year. Nvidia has also announced plans to release a new line of compact computers for humanoid robots, called Jetson Thor, next year.
In 2022, Samsung emphasized its focus on emerging technologies like robotics, along with AI, 5G, and automotive electronics. Given the company’s recent activities in these areas, it comes as no surprise that robotics would be a key part of its future initiatives.
Rainbow Robotics has an impressive team of 86 employees, led by Dr. Jun-ho Oh, who will continue to lead the new Future Robotics Office at Samsung and serve as an advisor.
Source: techcrunch.com
