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Samsung Electronics said today that it has acquired a significant stake in Rainbow Robotics, the South Korean robotics company. The electronics giant will be taking on a major role by increasing its share from 14.7% to an astonishing 35%, valuing the deal at KRW 267 billion (approximately $181 million).
The acquisition is aimed at bolstering Samsung’s own robotics department and accelerating the development of humanoid robots. To achieve this, Rainbow Robotics will be fully integrated into Samsung as a subsidiary. The integration is expected to be completed by February 2025.
Furthermore, Samsung has announced plans to establish a dedicated Future Robotics Office directly reporting to its CEO, with the goal of further expanding its robotics capabilities and fostering innovation in the sector.
The deal also enables Rainbow Robotics to expand globally by leveraging Samsung’s significant reach and connections. This will provide them with new opportunities for growth and development.
Source: techcrunch.com
