LIG Nex1 takes controlling shares of Ghost Robotics for $240M

By Mike Oitzman | July 29, 2024

LIG Nex1 Co., a South Korean defense technology company, has taken a controlling 60% share in Ghost Robotics Corp., which is now valued at $400 million. The companies said the transaction will enable Ghost Robotics to use LIG Nex1’s experience and manufacturing capabilities to accelerate its growth.

“[LIG Nex1’s] investment and strategic guidance will accelerate our growth and enhance our ability to deliver groundbreaking robotic solutions to a wider range of industries and applications,” stated Gavin Kenneally, Ph.D., co-founder and CEO of Ghost Robotics.

Register now and save.

LIG Nex1 follows through on acquisition plan

Seoul, South Korea-based LIG Nex1 indicated its intention to acquire ghost Robotics in December 2023. Today’s announcement marks the end of a strategic partnership between it and Philadelphia-based Ghost Robotics. 

“Our acquisition of a majority stake in Ghost Robotics aligns perfectly with our vision to lead the future of defense and security technology,” noted Shin IckHyun, 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.”

The company said it specializes in advanced weapon systems, electronics, and communications systems.

Ghost Robotics to widen Q-UGVs applications

Founded in 2015, Ghost Robotics has developed quadrupedal uncrewed ground vehicles, or Q-UGVs. The company claimed that such systems offer advantages in government and enterprise applications where wheels, tracks, and even bipedal systems may not be suitable.

Ghost Robotics is one of the few quadruped manufacturers worldwide that have embraced deployments of such systems into unmanned combat applications. The acquisition fits right into LIG Nex1’s roadmap and is a natural extension of its current development.

In 2022, Boston Dynamics filed a patent-infringement lawsuit against Ghost Robotics for its design. Hyundai Motor Corp.-owned Boston Dynamics is one of six robotics companies that signed a pledge not to weaponize their systems.

Ghost Robotics and LIG Nex1 said their deal will help them develop robots for both industrial and defense markets. By combining their strengths, the companies said they are “well-positioned to lead the industry in delivering robust, versatile, and reliable robotic solutions.”