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LIG Nex1 to buy quadruped robot maker Ghost Robotics for $240 mn

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: LIG Nex1, Ghost Robotics, University of Pennsylvania

LIG Nex1 Co., a South Korean weapons system developer, has agreed to buy a 60% stake in Ghost Robotics Corp (GRC), a Philadelphia-based robot developer, for $240 million to advance into the US defense industry. Founded in 2015, Ghost Robotics is a spinout of an engineering lab at the University of Pennsylvania (UPenn).

LIG Nex1 will inject $142.2 million into the deal and Korea Investment Private Equity will fund the $96 million remainder via a special purchase company (SPC) to be established for the acquisition.

Read more at Korea Economic Daily