SoftBank in talks to sell robot maker Boston Dynamics to Hyundai

SoftBank Group Corp. is in talks to sell robot maker Boston Dynamics Inc. to Hyundai Motor Co., people familiar with the matter said.

Proposed terms of the deal would give the South Korean automaker control of the robotics company in a transaction valued at as much as $1 billion, said one of the people, all of whom asked not to be identified because the discussions are private. The terms have yet to be finalized, and the deal could fall apart, said the people.

Representatives for Boston Dynamics, Hyundai and SoftBank declined to comment on the deal talks. In emailed statements, Hyundai said it’s “continuously exploring various investment and partnership opportunities.” Boston Dynamics said its work “continues to excite partners interested in exploring a deeper commercial relationship with our company.”