LG Electronics, based in Englewood Cliffs, on Friday said that it has agreed to acquire an additional 30% stake in Bear Robotics, a California-based startup it backed with an initial $60 million investment in March 2024, which secured LG a 21 percent stake and a call option agreement for up to an additional 30 percent stake. Upon completion of the call option exercise, LG will hold a controlling 51 percent stake in Bear Robotics, effectively incorporating it as a subsidiary.
This acquisition aligns with LG’s strategy to strengthen its presence in the robotics sector, a key growth area for the company. Concurrently, LG intends to leverage its AI and manufacturing expertise to reinforce its home and industrial robot businesses.
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