Samsung Acquires Majority Stake in Rainbow Robotics for $181M

Samsung Acquires Majority Stake in Rainbow Robotics for $181M
Samsung Electronics has become the largest shareholder of South Korea's Rainbow Robotics, increasing its stake from 14.7% to 35% for approximately $181 million. The acquisition aims to enhance Samsung's robotics division and expedite the development of humanoid robots. The deal will integrate Rainbow Robotics as a subsidiary and is expected to finalize by February 2025. Additionally, Samsung plans to establish a Future Robotics Office, led by former Rainbow shareholder Dr. Jun-ho Oh, to drive innovation. This move positions Samsung competitively in the evolving humanoid robotics market.