Samsung pays $181 million to turn into Rainbow Robotics’ largest shareholder

Samsung Electronics introduced Tuesday that it has turn into the biggest shareholder of South Korean robotics maker Rainbow Robotics, growing its stake from 14.7 % to 35 % for 267 billion KRW (about $181 billion).

The electronics big, which paid 86.8 billion KRW (about $59 billion) for a 14.7% stake in 2023, stated it was buying the stake to strengthen its robotics division and speed up the event of humanoid robots. Rainbow Robotics might be built-in as a subsidiary of Samsung and the deal is anticipated to be finalized in February 2025.

The corporate additionally introduced that it could create a Future Robotics Workplace reporting on to the CEO. The deal permits Rainbow Robotics to develop into abroad markets by leveraging Samsung’s attain.

Rainbow, based in 2011 by researchers on the Korea Superior Institute of Science & Expertise (KAIST), has developed two-arm cellular manipulators and autonomous cellular robots for functions in manufacturing and logistics. It has 86 workers.

Rainbow founding member Dr. Jun-ho Oh, the robotics firm’s former main shareholder earlier than the deal and an honorary professor at KAIST, will stay on board to steer a brand new effort referred to as Future Robotics Workplace at Samsung, and can function what to advise.

Samsung is simply the newest to leap into the race to develop humanoid robots that may function extra autonomously. Microsoft and OpenAI are planning to make use of their expertise for a humanoid robotic, and Tesla earlier this year launched his personal model of robots, Optimus. Nvidia also plans to launch a new line of compact computers for humanoid robots, referred to as Jetson Thor, subsequent 12 months.

In 2022, Samsung said that robotics, alongside AI, 5G and automotive electronics, can be a key a part of its future initiatives, suggesting that potential acquisitions in these areas may very well be on the horizon.