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01/24/2025 /M & A

LG Electronics Increases Stake in Bear Robotics, Aims to Strengthen Robotics Division

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LG Electronics has revealed its plans to expand its presence in the robotics industry by acquiring an additional 30% stake in Bear Robotics, a California-based startup specializing in AI-powered server robots for restaurants. This move solidifies LG's majority ownership of 51% in Bear Robotics, positioning the startup as a subsidiary of the larger company. Although the exact value of the stake remains undisclosed, reports from a local Korean outlet estimate it to be around $180 million, potentially valuing Bear Robotics at $600 million overall. 

 

LG intends to integrate Bear Robotics with its commercial robot unit to enhance its home and industrial robot divisions. The company aims to leverage Bear's AI technology to develop a comprehensive software platform for various robot applications.

 

LG's significant investment in Bear Robotics signifies its commitment to driving innovation in the robotics sector, with a focus on commercial, industrial, and home applications. The deal also reinforces LG's dedication to establishing robots as a key growth driver for the company. Bear Robotics, led by CEO and founder John Ha, will continue its operations under LG's ownership, contributing to the synergy between the two entities.

 

LG's interest in robotics extends back several years, with the company actively pursuing research and development in robot software and hardware. Notably, LG has previously deployed guide robots at major locations like Incheon International Airport in South Korea. 

 

Additionally, LG has a robust home robotics business and is set to launch the Q9, a self-driving AI home hub, equipped with advanced features including Microsoft's voice recognition and synthesis technology. In the industrial robot space, LG has developed the 'Autonomous Vertical Articulated Robot' designed for navigation and task execution. 

 

The company's latest move in acquiring a majority stake in Bear Robotics underscores its commitment to advancing its robotics division and staying at the forefront of technological innovation.

 

Source: Tech Crunch

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