After Samsung recently acquired a majority stake in a robotics company, its compatriot LG Electronics has now done the same. LG Electronics has now acquired an additional stake in Bear Robotics, bringing it to a majority stake and making the company a subsidiary under them.
Bear Robotics is already known for its artificial intelligence-based technology, especially involving robotic management. It is also already known for its in-store delivery robots.
In parallel with becoming a subsidiary, LG will also integrate their commercial robot business into Bear Robotics. The Bear Robotics management team will remain at the helm of the business.
Tags
BUSINESS & MONEY