LIG Nex1 acquires 60% of U.S. four-legged robot maker Ghost Robotics

Industry

Published: 29 Jul. 2024, 18:24

LIG Nex1 acquires 60% of U.S. four-legged robot maker Ghost Robotics

Ghost Robotics' Vision 60, a four-legged robot that can endure tough weather conditions and can move quickly in water. [LIG NEX1]

LIG Nex1 acquired 60 percent of Philadelphia-based Ghost Robotics for $240 million, the Korean defense company said Monday.

The latest investment marks the Korean firm's entry in the robotics sector, which can be combined with the firm's defense and security technologies.

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Founded in 2015, Ghost Robotics is a robot manufacturer specializing in four-legged robots. Its major product, Vision 60, is a mid-sized robot that can endure tough weather conditions and can be used in a broad range of urban and natural environments for defense, homeland security and enterprise applications. It can also move quickly in water.

Ghost Robotics exports its products to various countries like the United States, Japan and the Britain. Its value is now stands at around $400 million.

LIG Nex1 plans to open a Collaboration Center in Washington within the year to manage its robotics business.

"Our acquisition of a majority stake in Ghost Robotics aligns perfectly with our vision to lead the future of defense and security technology," said Shin Ick-hyun, CEO of LIG Nex1. "We expect this acquisition will serve as momentum for both companies to grow together based on our leading-edge technological capabilities and close cooperation."

BY SARAH CHEA [chea.sarah@joongang.co.kr]