
LG Electronics said Friday it would become the largest shareholder in Bear Robotics by exercising a call option to acquire an additional 30 percent stake in the US-based robotics firm.
The decision, made during a board meeting Thursday, will raise LG’s total ownership in Bear Robotics to 51 percent, enabling it to take over management control and incorporate the US company as a subsidiary, the home appliance maker said.
In March, LG invested $60 million to acquire a 21 percent stake in the US firm, along with an agreement to secure a call option for an additional 30 percent. By completing the exercise of this option, LG is solidifying its position in the growing commercial robotics sector.
Founded in 2017 in Silicon Valley, Bear Robotics specializes in artificial intelligence-based commercial autonomous robots. It develops robot software platforms, swarm control technology for optimizing the movement of multiple robots and cloud-based monitoring solutions.
LG Electronics CEO Cho Joo-wan stressed the company’s commitment to the robotics business at CES 2025 in Las Vegas earlier this month, declaring that “robots are a clear future.”
LG plans to integrate its Cloi commercial robot business with Bear Robotics, leveraging its advanced software capabilities. Key executives, including the CEO of Bear Robotics Ha Jung-woo, will remain in their roles to ensure business continuity, while LG will also join Bear Robotics' board.
The expanded partnership aims to bolster LG’s presence in the commercial robotics market as well as household and industrial robotics. The home appliance solution division will manage household robots, focusing on seamless integration with LG’s existing appliances and services.
Industrial robots, a cornerstone of LG’s smart factory initiatives under its production engineering research institute, will drive significant revenue growth through AI integration and digital transformation technologies.
The collaboration is expected to elevate LG’s overall robotics software capabilities. By developing an integrated solutions platform spanning commercial, industrial and household robots, LG aims to deliver a unified and enhanced user experience while accelerating product development timelines.
“This additional investment reflects LG’s unwavering commitment to establishing robotics as a key growth driver. We will continue to innovate across all areas of robotics, including commercial, industrial and household applications,” said LG Electronics Chief Strategy Officer Lee Sam-soo.
By Jie Ye-eun (yeeun@heraldcorp.com)