The tech giant said that it exercised its call option on Rainbow Robotics, increasing its stake from 14.7% to 35%. — Reuters
Seoul: Samsung Electronics says it will become the largest shareholder in Rainbow Robotics, a South Korean robotics startup, as part of its push for advancing robotics technologies, including humanoid robots.
The tech giant said that it exercised its call option on Rainbow Robotics, increasing its stake from 14.7% to 35%.
As a result, the startup will be integrated into Samsung’s consolidated financial statements as a subsidiary.
Rainbow Robotics, founded in 2011 by researchers from the Korea Advanced Institute of Science and Technology (KAIST), specialises in humanoid robotics technologies.
The founders had developed Hubo, South Korea’s first two-legged walking robot, in 2005.
The strategic move underscores Samsung’s ambition to position robotics as a key growth driver.
Alongside the acquisition, Samsung has established a Future Robotics Office reporting directly to the chief executive officer.
The new division will focus on advancing humanoid and other next-generation robotic technologies.
Samsung will also form a synergy council with Rainbow Robotics to strengthen leadership in the global advanced robotics business, with the council expected to serve as a bridge to foster the growth of both companies by developing future robot technologies and core business strategies and by identifying and assessing market demand.
Samsung initially invested 86.8 billion won or about US$59mil in Rainbow Robotics in 2023.
This followed earlier investments in January 2022, when it acquired a 10.22% stake for 59 billion won and an additional investment of 27.8 billion won in March 2022.
The subsequent call option paved the way for Samsung to increase its holdings and ultimately become the largest shareholder.
With Rainbow Robotics now a subsidiary, Samsung plans to leverage the company’s advanced robotics expertise alongside its own capabilities in artificial intelligence and software. — The Korea Herald/ANN