South Korea’s defense powerhouse LIG Nex1 is set to acquire American technology firm Ghost Robotics for $239 million.
As reported by UPI News Korea, the Asian company will have a controlling 60 percent stake in the Philadelphia-based firm known for making cutting-edge unmanned quadruped vehicles.
The remaining 40 percent will be owned by its partner – a private equity corporation.
The move comes as the global military robotics market is projected to expand from $21.11 billion last year to $34.48 billion by 2030.
The acquisition will reportedly be finalized by June 2024.
Once completed, the initiative is expected to help LIG Nex1 diversify and strengthen its position in the global robotics and military technology market.
Ghost Robotics Portfolio
Founded in 2015, Ghost Robotics is the manufacturer of the famous Vision 60, a four-legged unmanned ground vehicle for navigating small spaces in an urban environment.
The 50-kilogram (112-pound) robot has a maximum endurance of three hours and a payload capacity of 10 kilograms (22 pounds).
It is equipped with Nvidia’s Xavier chip, enabling the platform to continue its pre-programmed mission even if its vision sensors fail or the robot slips or falls.
“Ghost Robotics has emerged as one of the most prominent makers of military robots,” investment analyst Yang Seung-yoon said, as quoted by UPI News Korea. “LIG Nex1 could make preemptive investment in technology and secure new business opportunities.”